2025 (5) TMI 684

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....ences by ld CIT(A) without calling for the remand report which are in contravention of Rule 46A(3) of the Income Tax Rules, 1963 ('the Rules'). 03. The facts in brief are that the assessee is a non-filer of return and as per order u/s 148A(d) of the Act dated 26.03.2022, there were financial transactions of Rs.1,95,16,338/- by the assessee and accordingly the ld. AO held that the income of the assessee has escaped assessment for the following reasons:- a. Cash withdrawals through bearers cheque amounting to Rs.1,93,26,069/- b. Contract receipts from Save Solutions Pvt. Ltd. amounting to Rs.1,90,269/-. 04. Accordingly, notice u/s 148 of the Act was issued on 26.02.2022, which was complied with by the assessee by filin....

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....his bank account as the appellant acted as CSP agent on behalf of Save Solutions Pvt Ltd. This sum only withdrawn and given to the respective customers. Hence, addition of unexplained money of Rs. 1,93,26,029/- is not maintainable as it was not unexplained money. 6. On this transaction only, the appellant earned the commission as contract receipt. This was duly admitted by the appellant in his return of income filed on 19.04.2022 in response to the notice issued u/s 148 of the IT Act. If so, addition of Rs. 1,90,269/- is also not maintainable. 7. In view of the facts discussed above, the AO is directed to delete both the additions. 6. As a result, the appeal is Allowed. 06. After hearing the ld. DR and assessee....