2025 (8) TMI 1313

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....ment Sh. Sanjay Kumar, Sr. DR ORDER PER SATBEER SINGH GODARA, JM This assessee's appeal for assessment year 2011-12, arises against the Commissioner of Income Tax (Appeals) [in short, the "CIT(A)"], Kolkata's DIN and order no. ITBA/APL/S/250/2023-24/1059563345(1), dated 10.01.2024 involving proceedings under section 143(3) r.w.s. 147 of the Income-tax Act, 1961 (hereinafter referred to as....

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.... their respective orders. 5. Faced with this situation, the only prima facie inference which arises in the given facts is that although the assessee has not been specifically able to explain the direct nexus between his trading results and cash deposits forming subject matter of dispute, the benefit herein of presumptive scheme u/s 44AD could not be altogether denied as well. I thus deem it app....