2024 (10) TMI 657

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....dated 11.10.2023 against the order of assessment passed u/s 144 of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') dated 17.12.2019 by the Assessing Officer, DCIT, Circle-3(1), New Delhi (hereinafter referred to as 'ld. AO'). 2. The revenue has raised the following grounds of appeal before us:- "1 The Id. CIT(A) has erred in deleting the addition made by the Assessing Officer amounting to 50,68,350/-u/s 68 of the Act on the issue of cash deposited during the demonetization period. The Id. CIT(A) has failed to consider any cash book showing the day-to-day receipt of cash as well as cash expenditure to substantiate the cash in hand. The Id. CIT(A) has failed to examine any authentic documents to explain the source ....

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....9,951/-, The Ld. CIT(A) has erred in considering the genuineness of the expenses of Rs. 10,64,995/- incurred during the year under consideration. 6. The Ld CIT(A) has erred in deleting the disallowance made by the Assessing amounting to Rs. 32,13,000/- paid on account of rent during the year under consideration. The Ld. CIT(A) has erred in deleting the disallowance made by the Assessing Officer of Rs. 32,13,000/- as the expenses incurred on account of rent was not for business purpose and there was no agreement was executed between the assessee-company and landlord. 7. The Ld. CIT(A) has erred in deleting the disallowance made by the AO u/s 37(1) of the Act amounting to Rs. 1,23,94,635/-, The Ld. CIT(A) has erred in consid....