2024 (7) TMI 498

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....l Member For the Assessee : Shri Guruswamy H, ITP For the Revenue : Shri Ganesh R Gale, Standing Counsel for the Department (DR) ORDER PER SHRI PRAKASH CHAND YADAV, JUDICIAL MEMBER The present appeal of the assessee is arising from the order passed by the Addl/JCIT (A), Gwalior dated 21/02/2024 in DIN No. ITBA/ APL/S/ 250/2023-24/1061269696(1) for the assessment year 2017-18. 2. ....

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....ssee and after that dismissed the appeal of the assessee ex-parte without dealing with the merits of the case in terms of the provisions of sec. 250(6) of the Act. 5. Aggrieved with the order of the NFAC, the assessee preferred an appeal before the Tribunal. There is a small delay of 27 days, in filing the appeal before us, considering the reasons mentioned in the Condonation application filed ....

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....s) not having any business income, no further verification is required to be made if total cash deposit is up to Rs. 2.5 lakh. In case of taxpayers above 70 years of age, the limit is Rs. 5.0 lath per person. The source of such amount can be either household savings/savings from past income or amounts claimed to have been received front any of the sources mentioned in Paras 2 to 6 below. Amounts a....

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....es' as given in annexure. 8.2 On perusal of clause 1.1 annexed to the instruction, as extracted herein above, would reveal that in case of an individual (other than minors) not having any business income, no further verification is required to be made if total cash deposit is up to Rs. 2.5 lakhs. 8.3 When we apply the instruction of CBDT to the facts of present case it is abundantly clear th....