Court Deletes Additions on Unexplained Cash Deposit; Gifts from Relatives Exempt u/ss 69A and 56(2)(vi.

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....Unexplained deposit of cash u/s 69A - as submitted that the source of the said sum is gift from relative which is not taxable u/s 56 - Considering the fact that undisputedly the gifts have been received from relatives as defined u/s 56(2)(vi) no dispute has been raised to the fact that father and brother of the assessee have sufficient source of income. - Additions deleted - AT....