2025 (4) TMI 718

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....sent appeal is directed at the instance of assessee against the order of ld. Addl./JCIT(Appeal)-5, Kolkata dated 18th December, 2023 passed for Assessment Year 2017-18. 2. Brief facts of the case are that the assessee is an individual who derives income from business. The case of the assessee was selected for scrutiny. A notice under section 143(2) of the Act was issued and the same was served ....

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....t in the facts and circumstances of the case, the Assessing Officer and CIT(A) have erred in making addition of Rs.3,73,152/- on account of alleged impugned income, by taking 8% of total turnover as income. (3) For that in the facts and circumstances of the case, the charge of interest u/s 234A at Rs.37,784/- and Rs.1,46,413/- is arbitrary, unjust and bad in law. The interest may be quant....

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....er. But at the same time, the ld. Assessing Officer treated the cash deposit of Rs.5,50,000/- as unaccounted. He further submitted that the sales on cash ledger were placed before the ld. CIT(Appeals) during the appellate proceedings, which show that the sale proceeds declared by the assessee exceeds the cash deposit made by the assessee during financial year 2016-17. He, therefore, pleaded to del....

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....herefore, the first amount of Rs.5,50,000/- deposited on 10.11.2016 was treated as unaccounted. On this aspect, the assessee has declared the total turnover at Rs.81,16,658/-, therefore, merely because of not filing the details of purchase and sales vouchers is not the criteria to say that the assessee's first cash deposit of Rs.5,50,000/- as unexplained is not correct. As per the assessee, she ha....