2024 (12) TMI 1346

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....Represented by Adv.- Mr. Sumit Lal, Advocate Mrs. Z.M. Wallace, Advocate For the Respondents Represented by Adv.- Mr. S.C. Mohanty, Advocate (Sr. Standing Counsel) Mr. A. Kedia, Advocate (Junior Standing Counsel) ORDER Order No. I.A. no.30 of 2024 and ITA no.28 of 2024 1. Mr. Lal, learned advocate appears on behalf of applicant/appellant-assessee and submits, reported delay of 373 days....

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....TK/2023 in respect of assessment year 2017- 2018. That impugned order is erroneous would be apparent from the Tribunal having referred to the sum of Rs. 28,00,000/- deposited by his client on 12th November, 2016 as unexplained investment. The Assessing Officer (AO) had made addition of the amount as unexplained money under section 69-A. Furthermore, there stood issued notification dated 8th Novemb....

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....in law as appearing or questions can be said to arise from impugned order of the Tribunal. It is a clear case where the assesse had only Rs. 252.40 shown as balance in his cash book on 8th November, 2016 but thereafter on 12th November, 2016 deposited by SBN, Rs. 28,00,000/-. It was unexplained money and correctly added by the AO. A mistaken reference by the Tribunal to the unexplained money as un....

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....assessee does not maintain the denomination of notes received or deposited. Hence, the assessee can neither confirm nor deny the denominations deposited. The deposit during demonetization would have contained old demonetized notes. The deposits during that period are made out of cash sales and realization of debtors in the regular course of the assessee's business. The assessee is in ....