2025 (9) TMI 28

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ndent : Ms. Gouthami Manivasagam, JCIT ORDER PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER: This appeal filed by the assessee is directed against order dated 27.01.2025 passed by the ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi for the assessment year 2012-13. 2. The ld. AR Shri S. Sridhar, Advocate submits that the assessee is not interested to ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on 147 r.w.s. 144B of the Act. The ld. CIT(A) confirmed the same. Having aggrieved by the order of the ld. CIT(A), the assessee is in appeal before the Tribunal. 5. The ld. AR Shri S. Sridhar, Advocate submits that the ld. CIT(A) sought for remand report from the Assessing Officer and the said remand report is reproduced in page 6 of the impugned order. The ld. AR submits that the assessee depo....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....thami Manivasagam, JCIT submits that the contentions of the ld. AR is not acceptable as to why huge amount of Rs..18 lakhs was withdrawn from the bank and deposited the same after 117 days carrying all risk associated with safety and security of the cash. Further, she submits that carrying cash from Chennai to Salem, which is approximately 345 kms and deposits the same, is not acceptable as the sa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of Rs..18 lakhs which were again deposited in Axis Bank in two spells, which clearly shows the nexus of withdrawal and deposits from one bank to another bank respectively. On examination of para 5.8 of the impugned order, the ld. CIT(A) only doubted risk and security of the cash being kept in the custody of the assessee and travelling from Chennai to Salem of long distance is not acceptable, in ou....