2023 (4) TMI 269

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....as made by the AO on account of cash deposits into various bank accounts during demonetization period by treating the same as unexplained money in terms of provisions of Section 69A of the Act by holding that t benefit of Section 10(26AAA) of the Act was not available to the assessee. 3. Facts in brief are that the assessee filed return of income on 26.03.2018 declaring returned income as NIL. Subsequently the case was selected for scrutiny under CASS and statutory notices were duly issued and served on the assessee. The AO issued various notices to the assessee from time to time, however, no compliances were made. Finally the AO framed assessment u/s 144 of the Act by assessing the income at Rs. 20,10,000/- on the basis of ITS data and ....

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....934/-. These facts are not in dispute.The assessee calculated his income on presumptive basis u/s 44AD of the Act and offered net profit of Rs. 6,79,974/- from bsuiness. The assessee offered total income of Rs. 6,98,908/- which comprised of business profit of Rs. 6,79,974/- , bank interest of Rs. 15,651/- and LPG subsidy of Rs. 3,283/-. The assessee was not maintaining any books of account. The assessee after availing exemption u/s 10(26AAA) of the Act reported Nil income. We note that the assessee has submitted that the cash deposits in the various bank accounts were out of sales made in the proprietary business carried on under the name and style Royal Demazong and also out of realization from business debtors. After having perused the or....

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....W7KG014McO8L1R dated 17-04-2019 being the license fee for the year ending 31-03-2020. 2. You shall run the trade in the building/house of Shri/Smt. Phupu Doma Bhutia at Chandbari under 4. Chandmari Ward. SI Description of Business No. Trade License Fee (Rs./Year) Garbage Fee (Rs./Month) 1 GROCERY (EXCEPT CONTROLLED ITEMS) RETAIL 350.00 100.00 234 RITUAL ARTICLES 350.00 100.00 HANDICRAFT/WOOD CARVING/WEAVING/BAMBOO CARVING 250.00 100.00 CLASS-III (SMALL SHOPS DEALING WITH READY MADE GARMENTS ONLY) 500.00 100.00 N.B. THIS LICENSE MUST BE DISPLAYED IN ORIGINAL AT THE PLACE OF TRADE. TOTAL: Rs. 2650.00 Signature of Licensing Authority Deputy Municipal Commiss....