2025 (7) TMI 1815

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....Sr. DR ORDER PER SIDDHARTHA NAUTIYAL - JUDICIAL MEMBER: This appeal has been filed by the Assessee against the order passed by the Ld. Commissioner of Income Tax (Appeals), (in short "Ld. CIT(A)"), National Faceless Appeal Centre (in short "NFAC"), Delhi vide order dated 17.01.2025 passed for A.Y. 2017-18. 2. The assessee has raised the following grounds of appeal: "1. Erred in dismissing ap....

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....ct conducted on 09.09.2016, the assessee had admitted to an undisclosed income of Rs.3,20,34,149/- on account of stock discrepancy, which was subsequently treated as unexplained stock and added as assessee's income under section 69B of the Act, in the assessment order. However, upon review of the case records, the Assessing Officer observed that while this undisclosed income was assessed and taxed....

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.... the apparent mistake under section 154 of the Act. 4. In appeal, the Commissioner (Appeals) dismissed the assessee's appeal against the rectification order passed under section 154 of the Act, by noting that the assessee had failed to make a valid case at all. The assessee had objected to the addition made by the Assessing Officer, arguing that the original assessment under section 143(3) of the....