2024 (11) TMI 28

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....For the Respondent : Ms. Gouthami Manivasagam, JCIT ORDER PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER: This appeal filed by the assessee is directed against the order dated 25.06.2024 passed by the ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre [NFAC], Delhi for the assessment year 2010-11. 2. The assessee raised 4 grounds of appeal amongst which, the only iss....

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....income or any relevant details in connection with cash deposits. Accordingly, the Assessing Officer added entire cash deposits as found in the savings bank account of the assessee to an extent of Rs..11,18,925/- to the total income of the assessee vide his order dated 23.11.2018 passed under section 144 r.w.s. 147 of the Act. The assessee challenged the same before the ld. CIT(A). According to the....

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.... income according to the presumptive section 44AE of the Act for the assessment year under consideration. It was vehemently contended that the Assessing Officer is not justified in assessing entire cash deposits, but, ought to have adopted peak balance in the savings bank account. He submits that the assessee is ready to furnish all relevant evidence before the Assessing Officer and thus, the ld. ....

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....s having no knowledge of income tax proceedings, could not appear before the authorities below. On perusal of the assessment order as well as impugned order, there was no assistance from the assessee to the notices issued by the Assessing Officer as well as ld. CIT(A). The business of the assessee is not in dispute and the cash deposits as found in the savings bank account are constitutes transpor....