2025 (8) TMI 1423

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....na (CIT) - Ld. DR ORDER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2018-19 arises out of an order passed by learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] on 05-08-2024 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s. 143(3) r.w.s. 143(3A) & 143(3B) of the Act o....

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....ee issued cheques with a sole aim to claim deduction u/s 11. The donee trust took 2 months and 13 days to produce the cheques for encashment. Therefore, the amount of Rs.107 Lacs was added to the income of the assessee. During appellate proceedings, the assessee submitted that it was having sufficient balance in the form of fixed deposits and balance in current and savings bank account and the sam....

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....t necessary that the drawer should have sufficient bank balance at the time of issuance of cheques. The only responsibility of the drawer is to ensure sufficient balance at the time of encashment of cheques. Undisputedly, the cheques have ultimately been honored when they have been presented to bank for clearance. Therefore, the denial of claim is not justified. The Ld. CIT-DR, in the written subm....