2024 (1) TMI 311

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....T(Sr. D.R) ORDER PER RAJESH KUMAR, AM: This is an appeal preferred by the assessee against the order of the Ld. Commissioner of Income Tax (Appeals)-NFAC, Delhi (hereinafter referred to as the Ld. CIT(A)"] dated 11.08.2023 for the AY 2017-18. 2. The only issue raised by the assessee in the various grounds of appeal is against the confirmation of addition of Rs. 17,48,000/- by Ld. CIT(A....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....hese were not relevant/sufficient papers/documents and held that assessee has failed to prove the sources of cash deposits. Thereafter the AO issued show cause notice to the assessee on 20.11.2019 as to show cause as to why the deposit of Rs. 17,48,000/- during demonetization period should not be treated as unexplained cash credit and added to the income of the assessee. Finally the said income wa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....essary gift deed from page 4 to 6 of PB executed by the donors and duly signed by the donee along with copy of ITR, balance sheet, acknowledgment of receipt of gift. Besides the assessee has filed ITR, copy of account and computation of income of Shri Sachi Nandan Choudhury which are attached at page 7 to 10 of PB and also ITR, copy of account and computation of income of Smt. Bani Choudhury at pa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the evidences furnished before us in the form of ITRs, computations of income, balance sheets, profit and loss accounts explaining the creditworthiness of the donors and the gift given on the occasion of marriage of the assessee out of natural love and affection. We also note that during AY 2016-17, the assessee has opening cash balance of Rs. 9,21,457/- as on 01.04.2015 and during the year total....