2025 (9) TMI 1672

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....mar Arora, Sr. DR ORDER PER C.N. PRASAD, J.M. This appeal is filed by the Assessee against the order of the Ld. Commissioner of Income Tax (Appeals)-NFAC, New Delhi dated 26.07.2024 for the AY 2011-12. Assessee has raised the following grounds: 1. "That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of L....

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....at having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in not deleting the addition of Rs. 1,00,00,000/- as made by Ld. AO u/s 68 of the Income tax Act, 1961, by recording incorrect facts and findings and without considering the submissions of assessee; 5. That in any case and any view of the matter, action of Ld.CIT(A) in not reversing the a....

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....e order of the Ld. CIT(Appeals), we observed that the assessment was completed as best judgment assessment u/s 144 of the Act, wherein the AO after issue of several notices to the assessee the advances received by the assessee from Kohinoor Steels Pvt. Ltd. was treated as unexplained cash credit u/s 68 of the Act in the absence of any details furnished by the assessee as called for by the AO. The ....