2023 (9) TMI 546

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.... MOHAN GARG, JM : This appeal filed by the assessee is directed against the order of the Commissioner of Income Tax (Appeals)-3, Gurgaon dated 28.02.2022 for Assessment Year 2018-19. 2. The Learned Counsel submitted that the Assessing Officer while making addition of Rs. 3,00,000/- under Section 68 of the Act has only considered the first part of statement of assessee ignoring the second part of....

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....ing in view amount of cash withdrawals by the assessee but confirmed the addition of Rs. 3,00,000/- by observing that the appeals has not discharged his onus regarding said amount of Rs. 3,00,000/- and thus the same remained unexplained. 5. In our considered view, when the assessee has huge cash withdrawals immediately before the date of search and in the second part of his statement, recorded du....