2022 (11) TMI 728

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....cash deposits as unaccounted income is wholly illegal, unlawful and against the principles. 1.2 That in the facts and circumstances of the case as well as in law, the Ld. CIT (A) erred in not considering fully and properly the evidence produced by the appellant. The Ld. CIT(A) ought to have considered that there was reasonable and sufficient cause for alleged non-compliance in as much as that appellant met with an accident so that he could not comply to the notices. 2.1 That in the facts and circumstances of the case as well as in law, the Ld. CIT (A) has grievously erred in upholding the addition of Rs. 16,63,000/- towards cash deposits as unaccounted income. 2.2 The Ld. CIT(A) has erred ought not to have made ad....

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....actures medicine. The assessee was generating income by way of remuneration from the company. The Ld. A.R. submitted that during the year under consideration the assessee received gross income of remuneration of Rs. 1,66,280/- out of which deduction of Rs. 73,941/- which claimed under Chapter vi(a) of the Act. The Ld. A.R. submitted that the assessee made withdrawal of unsecured loan lying in the company Excel Health Care Pvt. Ltd. for which the assessee submitted audited balance sheet of the company wherein unsecured loan has been reflected. The assessee submitted salary certificate issued by Excel Health Care Pvt. Ltd. for payment of Directors remuneration amounting to Rs. 1,67,000/-. The Ld. A.R. submitted that the Assessing Officer has ....