2025 (5) TMI 1166

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....tem of the ITD that assessee has deposited cash aggregating to Rs. 19,87,000/- in his bank account maintained with ICICI Bank Ltd. bearing account no.004601009337. Accordingly, notices were issued to the assessee under section 148 of the Income-tax Act, 1961 (for short 'the Act'). In response, assessee submitted that the return filed on 30.07.2011 may be treated as return filed. Subsequently, notices u/s 143(2) and 142(1) along with questionnaire were issued and served on the assessee. In response, the assessee filed written submissions along with copy of ITR, statement of bank account in response to the queries raised. Further, Assessing Officer issued notice u/s 142(1) along with show cause, however assessee only stated that the reply has....

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....any plausible explanation and proper records, sources of cash deposited cannot be accepted. Accordingly, he sustained the addition made by the AO. 4. Aggrieved assessee filed an appeal before us raising following grounds of appeal :- "1. That under the facts and circumstances of the case, the Ld. Commissioner of Income-tax (Appeals), National Faceless Appeal Centre, Delhi (hereinafter referred to as "CIT(A)") has erred in passing the impugned order dated 03.07.2024 confirming the assessment order dated 29.12.2018 passed by the Income-tax Officer, Ward-2(l), Faridabad (hereinafter referred to as "AO") in the case of the Appellant for Assessment Year (hereinafter referred to as "A.Y.") 2011-12, wherein an addition of Rs. 19,87,000....

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....r book wherein assessee has withdrawn cash to the extent of Rs. 13,30,000/-. For the sake of clarity, the chart given at page 14 of the paper book is reproduced below :- Date of withdrawal Amount withdrawn Date of deposit Amount deposited Balance cash available Opening Balance 5,17,545 07.04.2010 10,000 5,07,545 13.05.2010 9,00,000 16.06.2010 9,00,000 5,07,545     01.07.2010 30,000 4,77,545     07.07.2010 10,000 4,67,545     03.08.2010 10,000 4,57,545 10.08.2010 1,00,000 06.09.2010 50,000 5,07,545 27.09.2010 1,00,000   6,07,545   09.10.2010 15,000   6,22,545 &nbsp....