2022 (10) TMI 1185

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.... ORDER PER DR. B. R. R. KUMAR, ACCOUNTANT MEMBER : 1. The present appeal has been filed by the assessee against the order of NFAC, Delhi dated 31.07.202 . 2. The pertinent facts relevant for the adjudication of the case are as under:- The re turned income of the Assessee -Rs. 1141330/-   The assessed income u/s 143(3) -Rs. 1352890/- The assessed income u/s 143(3)/263(....

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....n as well as in the subsequent year after duly deducting the TDS. The addition has been solely made on the basis of low returned income disregarding the sufficiency of the sources and its genuineness. The ld CIT(A) held that the bank statements of the loan parties were not furnished by the appellant and at the same time held that, on analysis of the bank accounts of Shir S.C. Agarwal and Sons show....