2025 (7) TMI 1359

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....essee's appeal for Assessment Year 2012-13, arises against the CIT(A)/NFAC, Delhi's DIN & order No. ITBA/NFAC/S/250/2022-23/1049279322(1) dated 31.01.2023, in proceedings u/s 143(3) r.w.s. 147 of the Income Tax Act, 1961 (in short "the Act"). 2. Heard both the parties at length. Case file perused. 3. Coming to the sole substantive issue between the parties regarding correctness of bo....

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.... appellant did not explain as to why such huge cash was withdrawn and the purpose for which it is drawn. In view of the long gap the claim is not acceptable. Therefore, the order of the AO is sustained and the grounds raised in this regard are dismissed. 5.3 With regard to re-opening of the assessment u/s 147 of the Act, the AO has obtained approval from the Pr. CIT, Faridabad, which has ....