2024 (9) TMI 1101

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....grounds of appeal:- 1. That on the facts and in the circumstances of the case, the ld. CIT(A) erred on facts and in law in confirming the assessment order dated 23.12.2016, which is illegal and bad in law and against the principles of natural justice. 2. That on the facts and in the circumstances of the case, the Id. CIT(A) erred on facts and in law in confirming the addition of Rs. 17,60, 151/- made by the A.O. without considering the detailed reply and documents filed by appellant during the course of hearing. 3. That on the facts and in the circumstances of the case, the ld. CIT(A) erred on facts and in law in confirming the addition of Rs. 17,60,151/- made by the A.O. as unexplained credit on the basis of thir....

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....in turn confirmed the order of AO. The assessee being further aggrieved preferred the present appeal before us. 4. We have gone through the order of AO, order of Ld. CIT (A) and submissions made by assessee alongwith grounds raised before us. Ground wise adjudication of the issues involved is as under in the order. Ground nos. 1 to 4 pertains to addition of Rs. 17, 60,151/- on account of treating the same as unexplained income. It is observed that assessee is a dealer of Eicher Tractors, tractor parts and accessories. In addition to this, assessee was involved in arranging finance for the customers from a NBFC i.e. Mahindra & Mahindra Financial Services Ltd. (MMFSL). During the year under consideration, assessee received an amount of Rs.....