2025 (10) TMI 1110

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....2017-18. 2. The grounds of appeal are as under:- "1. On the peculiar facts of the case and in law, the assessment order passed by the learned AO and also the appeal order passed by the learned CIT(A)/NFAC are liable to be set aside. 2. On the peculiar facts of the case and in law, the additions of Rs. 4557000/-(Rs.1909000/- + Rs. 1898000/- + Rs. 750000/-) are liable to be deleted, more particularly because no proper show cause notice had been issued to the appellant assessee prior to making such addition. 3. On the peculiar facts of the case and in law, the additions of Rs. 4557000/-Rs.1909000/- Rs. 1898000/- + Rs. 750000/-) are liable to be deleted, more particularly because the provisions of section 68 had no....

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.... the ground that Assessee's own unexplained and unaccounted money has been routed into his business concerns during the demonetization period. Aggrieved by the assessment order dated 26/12/2019, the Assessee preferred an Appeal before the Ld. CIT(A). The Ld. CIT(A) vide order dated 16/01/2025 dismissed the Appeal of the Assessee. As against the order of the Ld. CIT(A) dated 16/01/2025, the Assessee preferred the present Appeal on the grounds mentioned above. 3. The Ld. Counsel for the Assessee submitted that in so far as deposit of cash of Rs. 19,98,000/- in the bank account maintained in the name of M/s Anmol Rang Rasayan Kendra, and M/s Zensons and Company i.e. Rs. 19,98,000/- and Rs. 20,09,000/- are concerned submitted that at no poin....

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....11.2016 in HDFC Bank and Rs. 1509000/- on 29.11.2016 in Jain Cooperative Bank) out of the closing cash in hand available as on 08.11.2016 amounting to Rs. 2061261/- as per cash book (duly audited). 6. During the assessment proceedings, the books of account in respect of two concerns M/s Anmol Rang and Rasayan Kendra and M/s Zensons and Company were made available to the A.O. The Assessee was the sole proprietary concerned to the said entities, further the Assessee has also furnished the books of both the entities. It is observed that A.O. has not doubted the sale or purchase or direct expenses or in direct expenses of the Assessee. The A.O. has doubted only closing cash in hand as on 08/11/2016 without their being any concrete basis. The....