2025 (6) TMI 901

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.... is emanating from the order of the NFAC, Delhi in Appeal No. ITBA/NFAC/S/250/2024-25/1069313809(1) dated 01.10.2024 relating to assessment year 2017-18. 2. Heard both the sides and perused the records. 3. At the threshold, it is noted that there is a delay of 48 days in filing the appeal before the Tribunal and during the hearing, it is observed that reasonable cause has been attributed to the ....

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....t of cash deposited worth Rs. 28,88,000/- during demonetization period. The assessee deposited Rs. 13,50,000/- in SBI and Rs. 1,53,50,000/- in City Bank and during the assessment proceedings, the AO provided various opportunities to the assessee and the assessee made the submission that the cash is deposited out of accumulation of her mother and her sister. However, the AO did not accept the submi....

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....itted that the said cash belonged to the mother of assessee and given back to her mother after opening bank account in mother's name. In order to prove his version, he filed a Paper Book containing pages 1-148 which includes copy of acknowledgement of return of income filed by the assessee for the assessment years 2011-12 to 2017-18 showcasing adequate income of the assessee; copy of summary sheet....

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....of cash withdrawal by Anjana (sister of the assessee); copy of details of amount transferred by Anjana Singh (sister of the assessee) to the assessee and other relevant documents/evidences mentioned in the said Paper Book, as referred above. I have given my thoughtful consideration to the assessee's contentions before the lower authorities and the documents/evidences placed before me as well as Re....