2025 (1) TMI 1275

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....by the assessee against the order dated 19.02.2024 passed by the Ld. Commissioner of Income Tax, National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as 'CIT(A)'] for the Assessment Year 2017- 18. 2. The Assessee is aggrieved by the action of the ld. CIT(A) in confirming the addition of Rs. 32 lacs made by the Assessing Officer by treating the cash deposits in the bank account....

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....That during the year, the Assessee decided to stop its business. The Assessee, therefore, sold its opening stock at discounted rates resulting into higher sales during the year under consideration as compared to the earlier years. The ld. Counsel for the Assessee has further submitted that there is no rebuttal to the fact on the file that the Assessee was having opening stock out of which the said....