2025 (8) TMI 1172

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....esh Das, Sr. D.R. ORDER PER : SUCHITRA KAMBLE, JUDICIAL MEMBER:- This is an appeal filed against the order dated 18-07- 2024 passed by CIT(A) for assessment year 2017-18. 2. The grounds of appeal are as under:- "i) Whether on the facts and in the circumstances of the case and in law the Ld. CIT(A) was justified in deleting the addition of Rs. 1,00,00,000/- u/s 68 of the Act made by the AO wi....

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....ver in wholesale. After issuing statutory notices, the assessee was called upon to submit the details for which the assessee has submitted a reply stating that the cash deposits was made by the assessee out of day to day regular retail business activity also submitted the chart of cash deposits from 01-04-2016 to 07-11-2016 as well the pending stock sales during the month and purchase during the m....

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....sclosed sources and also invoked section 115BBE. 4. Aggrieved by the assessment order, the assessee filed appeal before the CIT(A). The CIT(A) allowed the appeal of the assessee. 5. The ld. D.R. submitted that the assessee has deposited cash of Rs. 1,00,00,000/- during demonetization period in this bank account from assessee's unexplained sources and which was earned in old currency which has be....

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....side this, the Assessing Officer has not found any fault in cash book and not rejected books of accounts by invoking section 145(3) of the Act. The assessee has given the details of cash components which was generated to the sale during the festival period and also has given the details prior to demonetization and subsequent to demonetization. The ld. A.R. relied upon the following decisions:- &....