PAWAN KUMAR CHHAPOLIA,CUTTACK vs. ITO, WARD-2(3),CUTTACK, CUTTACK

(िनधा�रण िनधा�रण िनधा�रण वष� िनधा�रण वष� वष� / Assessment Year : 2017-2018) वष� Pawan Kumar Chhapolia, Vs ITO, Ward-2(3), Cuttack C/O. Ganpatrai Balabux, Cuttack-753002 PAN No. : AANPC 9872 F (अपीलाथ� अपीलाथ� /Appellant) (��यथ� ��यथ� / Respondent) अपीलाथ� अपीलाथ� ��यथ� ��यथ� .. िनधा�रती िनधा�रती क� िनधा�रती िनधा�रती क� क� ओर क� ओर ओर सेसेसेसे /Assessee by ओर : Shri Mohit Sheth, Advocate राज�व राज�व क� राज�व राज�व क� क� ओर क� ओर ओर सेसेसेसे /Revenue by ओर : Shri S.C.Mohanty, Sr. DR सुनवाई क� तारीख / Date of Hearing : 22/01/2025 घोषणा क� तारीख/Date of Pronouncement : 22/01/2025 आदेश / O R D E R आदेश आदेश आदेश Per Bench : The present appeal is filed by the assessee against the order of ld. CIT(A), National Faceless Appeal Centre (NFAC), Delhi, passed in IT Appeal No.CIT(A), Cuttack/10391/2019-20, vide DIN & Order No.ITBA/NFAC/S/250/2024-25/1065987293(1), dated 24.06.2024 for the assessment year 2017-2018, on the following grounds :-

1. For that under the facts and the circumstances of the case the Ld. CIT(A) was not justified in dismissing the appeal without understanding the fact and without going through the materials furnished before the Ld. CIT(A).

2. For that under the facts and in the circumstance of the case the amount of Rs. 10,15,000/- should not have been treated as unexplained money u/s.69A and the Ld. AO should have been accepted the documentary evidences furnished before him.

3. For that under the facts and in the circumstance of the case the assessment as made by the Ld. AO and sustained by the Learned CIT(A) regarding the addition of Rs. 10,15,000/- as unexplained money u/s.69A is arbitrary, unjustified & bad-in- law.

4. For that the assessment was made and completed u/s.144 is arbitrary, unjustified & bad-in-law. As the assessee has furnished complete explanation with the all the supporting details & documents during the course of Original Assessment and as well as before the Ld. CIT(A) also.

5. For that the Ld. AO should have accepted the explanation and should have accepted the return of income filed by the appellant.

6. For that under the facts and the circumstances of the case the addition of Rs. 10,15,000/- as made u/s.69A is arbitrary, unlawful and unjustified.

Thus, the present appeal is filed by the assesee before us.

Once there was sufficient opening balance available in the assessee’s bank account, which is duly utilized for making withdrawals, therefore, raising question about the source of cash deposit in the year under appeal is not justified, more particularly when no doubts were made in preceding year when deposits were made in bank account which are the immediate able to demonstrate that the immediate source of cash deposited in the bank account is out of cash withdrawn from bank just immediately four days back, therefore, we are of the considered view that no addition is required to be made by holding such deposits as unexplained. Thus, we direct the AO to delete the addition so made.