2023 (8) TMI 1281

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....Shri N. Shrikanth, DR ORDER PER PARTHA SARATHI CHAUDHURY, JM: The Stay Application (SA) and the appeal preferred by the assessee emanates from the order of National Faceless Appeal Centre [NFAC], Delhi, dated 23.11.2022 for A.Y.2017-18 as per the grounds of appeal on record. 2. Regarding stay application, no arguments were put-forth by the ld.AR at the time of hearing, meaning thereby,....

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....tc. The assessee explained that the said deposits are out of the sale proceeds. The AO did not accept the assessee's contention and added the amount of Rs. 54,26,000/- to the total income of the assessee as unexplained money u/sec. 69A r.w.s. 115BBE of the Act. The AO further, on perusal of the books of account produced by the assessee, held that assessee had made payments in cash towards purchase....

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....ring demonetization period. Furthermore, even no details of the customers from whom the cash collections in SBNs have been made during the demonetization were also filed before the Tribunal. Therefore, we do not find any infirmity with the order of the NFAC, the same is hereby upheld. 6. The next issue with regard to the addition of Rs. 93,29,812/- made in violation of the provisions of sec. 40....