2025 (1) TMI 1060

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....Officer u/s 143(3) of the Income tax Act 1961 (herein after referred to as the Act), vide order dated 09.12.2019. 2. Although, in this appeal, the assessee has raised a multiple ground of appeal, however, at the time of hearing the solitary grievance of the assessee is, the ld. CIT(A), as well as the assessing officer was erred in making addition of Rs. 22,78,500/-, on account, cash deposit in the bank account. Therefore, all the grounds raised by the assessee are being disposed, as one. 3.The brief facts necessary to be noted for the purpose of disposal of this case are as under: The assessee before us, is an individual and has filed his return of income for the assessment year (A.Y.) 2017-18, u/s 139 of the Income-tax Act, 1961, sho....

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....fore the assessing officer on 03.12.2019. In these replies, the assessee submitted before the assessing officer that assessee is engaged in a retail business where cash transactions are involved and assessee has been depositing cash in the bank account in the previous years from the proceeds from sale of goods and has also deposited the cash in the bank account in subsequent years. Further, the cash deposited during the year is less than the cash deposited in the previous years, in the same corresponding months. Therefore, the assessee stated before the assessing officer that no addition should be made on this account. 5. However, the assessing officer, rejected the contention of the assessee and held that an amount of Rs. 22,78,500/-, d....

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....red, as such then why and on what reasons the money which was received from the debtors, available with the assessee, yet to be deposited into the bank account and deposited into the bank account, has been disputed, which is against the facts, and prejudicial and therefore the addition so made is required to be deleted. Besides, the assessee submitted during the assessment proceedings, plethora of documents and evidences, which were neither discredited and rebutted by the lower authorities, therefore addition made by the assessing officer may be deleted. 8.On the other hand, the Ld. DR for the Revenue has primarily reiterated the stand taken by the Assessing Officer, which we have already noted in our earlier para and is not being repeat....

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....well as before the Ld. CIT(A). The list of the documents submitted before the lower authorities are Viz:(1) Death certificate of the assessee (Page-A1),(2) Balance sheet of F.Y. 2014-15 (Page-1),(3) Balance sheet of F.Y. 2015-16 (Page-2),(4) Balance sheet of F.Y. 2016-17 (Page-3),(5) ITR of F.Y. 2012-13 (Page-4-6),(6) ITR of F.Y. 2013-14 (Page-7- 9),(7) ITR of F.Y. 2014-15 (Page 10-12),(8) ITR of F.Y. 2015-16 (Page 13- 15),(9) ITR of F.Y. 2016-17 (Page 16-20),(10) Cash book of F.Y. 2014-15 (Page 21-31),(11) Cash book of F.Y. 2015-16 (Page 32-33),(12) Cash book of F.Y. 2016-17 (Page 34-44),(13) Confirmation ledgers of Debtors which was never cross verified by assessing officer by issuance of notice u/s 133(6) of the act during the course of ....