2025 (5) TMI 436

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....0,000/-. 3. The Ld. CIT (A) has erred in not allowing VC hearing inspite of specific request made by appellant. 4. The Ld. CIT(A) has erred in law and on facts in upholding the invoking of section 115BBE of the Act when transaction are occurred prior to insertion of provision on statute. 5. The appellant craves liberty to add, amend, alter or modify all or any grounds of appeal before final appeal." 3. The assessee filed return of income for assessment year 2017-18 on 19-08-2017 at total income of Rs. 6,44,560/- along with computation of income. The return of income was processed u/s. 143(1) of the Income Tax Act. The assessee is an individual and claimed to have earned income from interest income. The case was selected for limited s....

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....ssessee filed appeal before the CIT(A). The CIT(A) dismissed the appeal of the assessee. 5. The ld. A.R. submitted that the assessee has already given the details related to cash deposits are out of the cash withdrawals from Kalupur Co-operative bank and the subsequent deposit of the said amount with Indian Overseas bank. The ld. A.R. submitted that from the demonetization period i.e. 09-11-2016 to 30-12-2016, the assessee deposited cash of Rs. 15,00,000/- in the account held with Indian Overseas Bank and Rs. 85,000/- in account held with Kalupur Co-operative bank. The ld. A.R. submitted that section 115BBE has been introduced in Act as a result of the Taxation Laws (2nd Amendment) Act 2016 on 15-12-2016 and therefore the transaction occur....