Hon’ble Jodhpur ITAT has in the case of ITO Vs Hukum Singh Rao has deleted the addition of Rs. 46,97,000/- made on account of unexplained cash deposit U/s 69 of the Act.
It was explained by the appellant that the money deposited in the bank account represented cash received from elder son, who was tax payer and the withdrawals in the bank account had a a chronologically progressive linkage of events.
The Hon’ble ITAT has upheld the order of Ld CIT(Appeals), by observing as under:-
“6. I had carefully gone through the orders of the authorities below. During the course of assessment proceedings, the Assessing Officer found that the assessee had deposited cash of Rs. 46,97,000/- in his saving bank account maintained With SBBJ, Branch-Bhinmal. The assessee did not furnish his return of income for AY 2009-10. Accordingly, the AO initiated the proceedings u/s. 147/T48 by issuing notice u/s. 148 of the Act on 09-05-2012. In the assessment so framed, the Assessing Officer added the amount so deposited in the bank account. By the impugned order, the ld. CIT(A) has deleted the addition by observing that the amount so deposited was received from the son of assessee out of his bank withdrawals. The son of the assessee was regularly assessed to tax. The ld. CIT(A) has also observed that no where, the Assessing Officer has doubted that Shri Hukum Singh Rao, the elder son of the assessee, who has given the money, has no capacity to advance the fund for the treatment of father. The detailed findings so recorded by the ld. CIT(A) are as per the material on record, therefore, do not require any interference in our part. Accordingly, the same is hereby upheld.”