TaxTMI 
TaxTMI 
2025 (5) TMI 96
X X X X Extracts X X X X
X X X X Extracts X X X X
.... under: - 1. That the Ld. CIT(A) has erred in confirming the addition of Rs. 7,97,10,019/-on account of cash deposit in regular bank account of the assessee, ignoring the nature of business, which is of 'Air Travel and Air Ticket Agency'. 2. That the Ld. CIT(A) having, accepted the cash deposit of Rs. 6,15,08,851/- as of 'Travel Agency business' and non-acceptance of cash deposit on the same facts and circumstances to the tune of Rs. 7,97,10,019/- is against the facts and circumstances of the case. 3. That the finding of the Ld. CIT(A) that no evidence could be produced of Rs. 7,97,19,019/-, is against the facts and circumstances of the case. 4. That the finding of the Ld. CIT(A) in para....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ount, to the tune of Rs. 14,12,18,870/- and during the course of assessment proceedings, the source of entire cash as deposited in the bank accounts was stated to be out of sale of tickets of his clients and supported by cashbook and corresponding purchases from the suppliers. During the course of assessment proceedings, detailed information with regard to the copy of the 'sale register' giving date, name of the customer, transaction number, name of the supplier, from whom the tickets have been purchased was furnished, along with the ledger account in the books of suppliers from whom the tickets have been purchased and also details of the cash receipts from sale of the tickets from 01.04.2017 to 31.03.2018. Linking the same with the....
X X X X Extracts X X X X
X X X X Extracts X X X X
....roved suppliers and payment to the supplier was made via banking channel without pinpointing any defect the said addition was made by the AO. 2. Before ld. CIT(A), detailed submissions were made which have partly been reproduced in the order of the CIT(A). It was submitted that all the deposits in the two current accounts in HDFC Bank, represent the sale proceeds of the ticket and complete copy of the cashbook, copies of the bank statements. Reference was also made before the CIT(A) that, whatever, commission was received by the assessee, TDS have been deducted therefrom and the same is reflected in the Form 26AS of the Department and copy were placed before CIT(A). 3. The CIT(A) have confirmed the order of the A.O., thoug....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e invoices' and the software keeps the record of its corresponding purchases from the supplier and such details had also been furnished before the Assessing Officer and the copies of the same have also been filed before us. It was further argued before us that there is no bar in making the cash sales by the assessee and there is complete record in respect of each & every customer, for whom, the tickets have been purchased. Out of the receipts of cash from the customers which have been filed before the AO, as mentioned in the copy of the sale register and further there is no bar in making the cash sale as per the binding judgment of the Hon'ble Bombay High Court in the case of RB Jessaram Fateh Chand vs. CIT reported at [1970] 75 ITR....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nked with the supplier of the airline ticket from the particular Government Approved Agent and all such payments have been made to the Government Approved Agents through banking channel. 8. The ld. DR relied on the order of the CIT(A) and argued that though the assessee was only a commission agent and the income was earned on account of the sale of airline tickets in cash, still then, the Assessee should have the details of its customers as most of the ticket sales are for foreign travels. 9. We have considered the arguments of the ld. Counsel, ld. CIT DR and the order of the Assessing Officer, CIT(A) and also the brief synopsis and the paper books filed before us along with the reconciliation chart in respect of the commission/margin....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... of accounts have been submitted before us. In view of linking of such receipts of cash with the purchase of ticket and reconciliation of the payment made to the Government Approved Agents viz a viz each receipt of cash from the customers for the purchase of ticket and the chart as furnished during the course of hearing, and the submission filed by the assessee. 11. We have considered the assessment order passed by the Assessing Officer and the appellate order passed by the ld. CIT(A). We have also considered the arguments of the Counsel of the Assessee and written submissions filed by him before us. We find that the Assessee is purchasing tickets form the government approved carriers as he has been issued license by IATA (International ....