AI Drafter 
TaxTMI 
TaxTMI 
2025 (6) TMI 1685
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.... by Income Tax Officer, Ward- Pakhanjore, (in short "Ld. AR"). 2. The grounds of appeal raised by the assessee are as under: 1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in confirming the addition of Rs. 96,04,000/- made by Assessing Officer on account of cash deposits in bank account of appellant treating it to be unexplained credits u/s 68 of the I. T. Act, 1961 ignoring and without considering the facts and circumstances of the case properly and judicially. The addition therefore made is being arbitrary, illegal and bad-in-law and the assessee prays that the addition of Rs. 96,04,000/- be deleted. 2. The appellant craves leave to add, alter, delete, amend, withdraw, modify, ch....
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.... Capital Account and Balance Sheet etc. as on 31.03.2017, therefore, the assessee failed to explain and substantiate with supporting documents regarding the huge cash deposits in his bank account. With the aforesaid observations, Ld. AO concluded that the cash deposit of Rs. 96,04,000/- in bank account of the assessee remains unexplained, hence, the same are liable to be added as income of the assessee on account of unexplained cash credit u/s 68 of the Act. Accordingly, the assessment was completed with an addition of Rs. 96,04,000/- to the income of the assessee. 4. Aggrieved with the aforesaid addition, assessee preferred an appeal before the Ld. CIT(A), wherein assessee furnished a submission to explain the nature of his business and....
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....es of income and cash deposits in earlier years. The appellant has failed to link the commission income and other receipts with the deposits of cash made in banks from time to time. Even before AO and before me, no attempt has been made to link the deposits with the receipts. Customers statement has been filed before me. They have not been linked with the Bank Statements. Hence, on perusal of the submission of the appellant, it is not clear that cash has been deposited out of the receipts only on account of commission income and other income of the appellant. Hence, the addition of the AO on account of cash deposits is confirmed and appeal of the appellant is dismissed. 5. Being dissatisfied the aforesaid order of Ld. CIT(A) confirming t....
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....7 placed before us at page no. 30-218 of APB, copy of sample bills (page no. 219-230), copy of Form 26AS (Page No. 231-235), Sales register (Page No.236-243), Bank Statement (Page No.244-301), Purchase Register (Page No. 302-308), copy of Audit Report (Page No. 309-328), copy of revised computation filed along with Challan of Rs. 56,730/- (Page No.329-332), Income Tax Return of AY 2017-18 and copy of Balance sheet, profit & loss account, capital account etc. (Page No. 381-382). It was the submission that all the aforesaid documents are furnished before Ld. CIT(A), however, Ld. CIT(A) before whom all these documents / additional evidences are furnished by the assessee, had not even referred to such documents neither the assessee was show cau....
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....ial available on record and the contention raised by the parties. Prima facie, it is evident that the assessee had furnished various documents for more than 300 pages before the Ld. CIT(A), which are at first glance found to be relevant to the business of the assessee, however, the appeal was dismissed without referring to such documents, stating that the assessee failed to make any attempt to link the deposits with the business receipts, whereas there was no material on record to show that the assessee was show caused to furnish explanations qua such claim by the Ld. CIT(A). We, therefore, after having given a thoughtful deliberation to the entirety of the facts and circumstances of the present case, are of the considered view that in all ....