2025 (9) TMI 1438

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.... preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the "Ld. CIT(A)"] dated 16.04.2025 for the AY 2016-17. 02. The only issue raised by the assessee in the various grounds of appeal is against the confirmation of addition of Rs.1,33,66,960/-, by the ld. CIT (A) as made by the ld. AO u/s 69A of the Income-tax Act, 1961 (the Act) ....

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....business. The books of account of the assessee are also audited by the tax auditor. The ld. AO called for the information from the assessee which were duly replied, comprising the copy of audited annual accounts and other details. Besides, the ld. AO issued notice u/s 133(6) of the Act to the State Bank of India and Karnataka Bank Limited, calling for the account details, which were accordingly fu....

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....d with section 144B of the Act. 04. In the appellate proceedings, the ld. CIT (A) simply affirmed the order of the ld. AO by holding that the assessee has failed to explain the cash deposit and therefore, the ld. AO has rightly made the addition. 05. After hearing the rival contentions and perusing the materials available on record, we find that the assessee has been doing business and regul....