2023 (1) TMI 1384

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....VP: This appeal by the assessee arises out of the order dated 21-06-2022 passed by the National Faceless Appeal Centre (NFAC), Delhi u/s. 250 of the Income-tax Act, 1961 (hereinafter also called 'the Act') in relation to the assessment year 2017-18. 2. The only issue raised in this appeal is against the confirmation of addition of Rs. 1,78,500/- made by the Assessing Officer (AO) u/s. 68 of ....

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....eved thereby, the assessee has approached the Tribunal. 4. I have heard the rival submissions and perused the relevant material on record. It is seen that the assessee is a Urban Cooperative Credit Society which received Rs. 1,78,400/- from 15 depositors whose all the necessary particulars have been given. The list comprises receipt of Rs. 85,970/- from 3 small saving agents and Rs. 94,000/- fr....