Cash deposited out of FD maturity proceeds of father cannot be treated as unexplained

M. Vijayakumar Vs ITO (ITAT Chennai)

We noted that the CIT(A) has not doubted the source of maturity of assessee’s father FDs of Rs.8 lakhs which was withdrawn on 01.11.2016. Admittedly, the assessee made deposit on 10.11.2016 in cash, this amount of Rs.8 lakhs. The only dispute is confirmation, which now the assessee confirmed by filing affidavit of assessee’s father, which reads as under:-

“My name is Murugesan. I have been residing at Ezhumathur Village. During

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