2025 (7) TMI 41

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....walikar ORDER PER DR. MANISH BORAD, ACCOUNTANT MEMBER : This appeal filed by the assessee pertaining to the assessment year 2017-18 is directed against the order dated 19.10.2023 of National Faceless Appeal Centre (NFAC), Delhi passed u/s. 250 of the Income-tax Act, 1961 (hereinafter also called 'the Act') which inturn is arising out of the Assessment Order dated 19.12.2019 passed u/s. 14....

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....sited Rs. 14.50 lakh from the accumulated cash in hand. Based on this information available with the department, case of the assessee selected for scrutiny and inspite of assessee's claim that the said sum is out of the withdrawals made in the preceding years, the addition for the total cash deposit was made as unexplained money u/s. 69A of the Act. Assessee failed to get any relief before ld.CIT(....

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.... the rival contentions and perused the record placed before us. The only issue is regarding unexplained cash of Rs. 14.50 lakh which is deposited by the assessee during demonetization period. Assessee is not into any business activity and mainly earns income from rent, bank interest and agriculture. No regular books of account are maintained still the paper book showing the cash book has been file....

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....t Rs. 1.00 lakh stands duly reflected in the bank statement. These withdrawals of cash from the bank account partially supports the contention of ld. Counsel for the assessee coupled with the fact that assessee is a senior citizen and she must be having accumulated cash in hand from past savings including agriculture income. Considering all these facts and being fair to both the parties, we find t....