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Facts
The Assessing Officer made an addition of Rs. 9,00,000/- as unexplained income under Section 69A. The assessee submitted that the cash deposits were explained by LIC and pensionary benefits received from her deceased husband, a CRPF employee.
Held
The Tribunal held that the assessee had provided details of LIC and cash deposits, thereby explaining the source of the cash. Consequently, the addition made by the Assessing Officer was not sustained.
Key Issues
Whether the cash deposits made by the assessee were sufficiently explained by the LIC and pensionary benefits received.
Sections Cited
69A
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Income Tax Appellate Tribunal, SURAT “SMC” BENCH, SURAT
Before: DR. B.R.R. KUMAR, VICE- & MS. SUCHITRA KAMBLE
O R D E R PER SUCHITRA KAMBLE, JUDICIAL MEMBER:-
This is an appeal filed against the order dated 30-10-2024 passed by National Faceless Appeal Centre (NFAC), Delhi for assessment year 2017-18.
The assessing Officer made addition of Rs. 9,00,000/- as unexplained income u/s. 69A. The ld. A.R. submitted that the assessee received the LIC and pensionary benefits of the husband who was working in CRPF. The ld. A.R. has given the details about the LIC as well as details of cash deposits made in the A.Y. 2017- 18 from page 43 to 47 of the paper book. Hence , the cash deposit stands explained. Ergo, the appeal of the assesse is allowed.
In the result, the appeal of the assessee is allowed. 2 The order is pronounced in the open Court on 23.01.2026