2024 (10) TMI 657

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....sment 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 of cash deposits made during the demonetization peri....

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.... 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 considering the genuineness of the expenses amounting to Rs. 1,23,94,635/- incurred during the year ....