2025 (10) TMI 219

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....tanding Counsel for the Revenue ORDER 1. This appeal is filed by Ashwini Mysore Sathya Kumar (the assessee/appellant) for the assessment year 3027-28 against the appellate order passed by the CIT(Appeals)-1, Guwahati [ld. CIT(A)] dated 27.5.2025 wherein the appeal filed by the assessee against the assessment order passed u/s. 144 of the Income-tax Act, 1961 [the Act] dated 17.12. 2019 by the....

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....as received the gift of Rs. 150,000 from her grandmother out of savings and the same has been deposited into the bank account by the assessee. The bank statement is enclosed along with the submission. It was noted that the assessee has deposited a sum of Rs. 150,000/- on 11/4/2017. The information was obtained by issuing notice u/s. 133 (6) on 5/12/2016 wherein it was found that assessee has depos....

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....been made in the hands of the assessee. 5. The learned CIT - A confirmed the addition holding that the learned assessing officer has followed the standard operating procedure issued by the Central Board Of Direct Taxes. Therefore the assessee aggrieved with the same is in appeal before us. 6. The learned AR submitted that the assessee has deposited cash of Rs. 2 lakhs which is below Rs. 2.5 ....

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.... by him from his grandmother. The above cash deposit was further converted into fixed deposit receipt. The cash was deposited during the demonetisation period and therefore the necessary notices were issued to the assessee. As assessee failed to furnish the information to the extent of Rs. 2 lakhs, the learned assessing officer issued a show cause notice to the assessee and in response to that as ....