2025 (5) TMI 1163

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....R PER MADHUMITA ROY, JM: The instant appeal filed by the assessee is directed against the order dated 18/06/2024 passed by the National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as 'the Ld. CIT(A)] arising out of the assessment order dated 23.12.2019 passed by the ITO, Ward-34(4), Delhi u/s 144 of the Income Tax Act, 1961 (hereinafter referred as 'the Act') for Assessment....

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....uthority. Hence, the instant appeal before us. 3. In fact, the appellant imported flowers in the month of September and October during the festival seasons from one M/s FIRST BIZ CO LTD., a Thiland based Company payments whereof was made from the bank account lying with ICICI Bank. The items were sold during the year on cash basis and the same was deposited in the current account for making pay....

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....m 9th November, 2016 to 30th December, 2016 which was sought to be verified on the pretext that the assessee has not filed its return of income for Assessment Year 2017-18 which is mentioned in the very first paragraph of the assessment order dated 23.12.2019. In fact, the assessee filed its return of income declaring loss of Rs. 2,17,935/-. It has also been contended by the ld. AR that no notice ....

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....5 of PB filed before us including financial statements of the assessee. It was further pointed out by the Ld. AR that taking into consideration the turnover of the assessee to the tune of Rs. 56,10,150/-, as the assessee has not filed ITR, 8% of the same has been added to the total income of the assessee treating the same as undisclosed income, which establishes the fact of necessary documents inc....