TaxTMI 
TaxTMI 
2025 (3) TMI 872
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...., AM: This is an appeal preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the "Ld. CIT(A)"] dated 31.0.2023 for the AY 2009-10. 02. At the time of hearing, the assessee only pressed the issue raised on merit which is against the order of ld. CIT (A) confirming the addition of Rs. 14,06,250/- as against the addition of Rs. 1,50,0....
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....ssee stated that in fact the cash belonged to Shri Devesh Upadhyaya, a known person of the assessee who used his PAN and opened a Bank account in ICICI Bank and also operated the same. Thereafter, the ld. AO summoned the said person Shri Devesh Upadhyaya and his statement was recorded u/s 131 of the Act, in which he admitted that he had opened the bank account in the name of the assessee by using ....
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....,06,250/- at 0.75% of total accommodation entries provided. Now, the assessee is in appeal before us challenging the part confirmation of the order of the ld. Assessing Officer. 05. After hearing the rival contentions and perusing the materials available on record, we find that undisputedly the cash was deposited in the assessee's bank account in ICICI bank account which belonged to Shri Devesh U....