2022 (7) TMI 1559

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.... - Ld. DR ORDER Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2017-18 arises out of the order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 24-06-2022 in the matter of assessment framed by Ld. Assessing Officer [AO] u/s. 143(3) of the Act on 30-12-2019. The grounds taken by the....

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....the source for cash deposit made by the appellant is from undisclosed source. 4. In view of the above grounds and other submissions to be made at the time of appeal hearing the addition sustained, a sum of Rs.46,000/-to the returned income may be deleted and justice rendered. 2. As evident, the sole grievance of the assessee is addition of Rs.46,000/- u/s. 69A. The Ld. AR field written submis....

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....lved in recharge of prepaid sim cards were allowed to accept cash in the denomination value of one thousand rupees till 24.11.2016. Since the deposit of Rs.46,000/- was made after that date, the same was added to assessee's income as unexplained which would be taxable at higher rate u/s 115BBE. 4. During appellate proceedings, the assessee submitted that these deposits were out of business receip....