2024 (6) TMI 861

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.... , CA For the Respondent by Sh. Vivek Vardhan , Sr. DR ORDER PER YOGESH KUMAR U. S. , JM : This appeal filed by the Assessee against the order of Learned Commissioner of Income Tax (Appeals)-30, New Delhi, ["Ld. CIT(A)", for short], dated 25/11/2021 for Assessment Year 2017-18. The following grounds of appeal taken by the assessee: "1. The Ld. CIT(Appeals) has erred in confirm....

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....e case was selected for scrutiny and notice was issued mentioning that during the demonetization period i.e., from 09/11/2016 to 31/12/2016, the assessee deposited an amount of Rs. 27,00,000/- by cash in the bank account which shows abnormal increase in sales with decrease in profitability compared to preceding year. An order u/s 143(3) has been passed by the A.O. making an addition of Rs.27,00,00....

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....thout rejecting the books of accounts or finding fault in the books of account of the assessee. Based on the erroneous findings, the assessment has been made by the A.O., which has been confirmed by the Ld. CIT(A), therefore, sought for deletion of the additions. 6. Per contra, the Ld. DR relied on the orders of the lower authorities and sought for dismissal of the appeal filed by the assessee.....

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....ooks of account of the assessee and without finding any fault in the books of account of the assessee, the Ld. AO proceeded to make addition u/s 69A of the Act. When the assessee maintained and produced the books of account and the cash books before the Ld. AO by offering the explanation and by submitting the copies of VAT returns to justify the sales and corresponding receipts of cash books depos....