2023 (10) TMI 1194

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....2.2019 for the Assessment Year (A.Y.)2018-19. 2. Brief facts of the case are that the assessee, CEO of M/s Yugandhar Housing Private Limited, had filed his return of income on 30.08.2018 by admitting total income of Rs. 11,26,240/-. A search & seizure operation u/s 132 of the Act was conducted in the business premises of M/s Yugandhar Housing Private Limited & Group on 25.10.2017, in which the case of the assessee was also covered and cash of Rs. 3,00,000/- was found and seized from the residential premises of the assessee. Thereafter, during the assessment proceedings, notices u/s 143(2) and 142(1) of the Act were issued and served on the assessee. The assessee had furnished details / information called for in the notices. During the co....

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....es from agricultural income of assessee's father i.e. Rs. 1,00,000/- (50% of Rs. 2,00,000/-) and confirmed the remaining amount of Rs. 1,00,000/- for want of sufficient evidences. 4. Aggrieved by the order of the Ld.CIT(A), the assessee preferred an appeal before the Tribunal by raising the following grounds of appeal : 1. The learned CIT(Appeals) is erred in facts and law while passing the order. 2. The learned CIT(Appeals) is not justified in giving relief to the extent of 50% of claimed sources from Agricultural income of the father J.Veera Reddy, i.e. Rs. 1,00,000/- and sustaining the balance addition of Rs. 1,00,000/- without any reason. 3. The learned CIT(Appeals) is not justified in confiring the part ad....