2025 (5) TMI 1785

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....BEER SINGH GODARA, JM This assessee's appeal for assessment year 2017-18, arises against the Commissioner of Income Tax (Appeals)/Addl./JCIT(A)- 5, Mumbai's DIN and order no. ITBA/APL/S/250/2024- 25/1064873231(1), dated 14.05.2024, involving proceedings under sections 143(3) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act'). 2. Heard both the parties. Case file perused. 3. We n....

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....That being the case and keeping in mind the assessee's accumulated savings etc., the only inference which arises in the facts herein is that these cash deposits represent the above business turnover, although, not specifically explained before the lower authorities. Be that as it may, we are of the considered view in this factual backdrop that a lump sum addition of Rs. One lakh only would be just....