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Judgment
PER SATBEER SINGH GODARA , JM:
This assessee’s appe al for Assessment Year 2012-13, arises against the CIT(A)/NFAC, Delhi’s DIN & order No . ITBA/APL/S/250/2025-26/1078607047( 1) dated 17.07.2025, in proceedings u/s 147 of the Income Tax Act, 1961 (in short “the Act”).
Heard bo th the parties at length. Case file pe rused.
It transpires during the course of hear ing that both the lower authorities have treated the assessee’s investment made of Rs.7,52,060/- in purchase of immovable property in questio n, as unexplaine d u/s.69A of the Ac t, in assessment or der dated 30.12.2019 as upheld in the lo wer appe llate disc ussion.
A per usal o f the case file re veals with the able assistance coming from bo th the parties that assessee in fact had so ld an immo vable prope rty / flat on 13.04.2011 / deposited the correspo nding sale conside ration in her bank account maintaine d with M/s. ICICI Bank follo wed by withdrawal Rs. 4 lacs each (twice) on 19.04.2011 which is subject matter of addition o f Rs.752060/- , made by both the lowe r authorities. T hat be ing the case this tribunal hereby ho lds bo th the le arned lower author ities e rre d in law and on facts in not accepting the above cash withdrawals of Rs.8 lacs as e xplained, to de lete the impugned additio n amounting to Rs.752060/- in ve ry te rms. Orde red accordingly.
This assessee’s appeal is allo wed.