2025 (11) TMI 275

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....tax (Appeals), dated 04.07.2025, which in turn arises out of an order passed by the Assessing Officer u/s 147 of the Act, on 06.03.2025. 2. Grounds of appeal raised by the assessee are as follows: "1. The Ld. CIT(A) erred in not adjudicating the addition of Rs. 1,25,000 made under section 69, based on a third-party ledger lacking any reference to the assessee, without independent corroboration, ignoring the possibility of fabrication, and contrary to valuation accepted by the Stamp Valuation Authority. 2.The Ld. CIT(A) erred in not adjudicating the addition made without any evidence of additional source of income to justify the alleged unexplained investment. 3.The Ld. CIT(A) erred in confirming the addition ba....

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.... mentioned information, the case of the assessee was reopened u/s 147 of the Act and notice u/s148 of the Income-tax Act. 1961 was issued. The assessee filed return in response to notice u/s. 148 on 17/04/2024 with total income of Rs. 2,42,120/-. During the course of assessment proceedings, the assessee failed to explain the source of the 'on-money' payment of Rs. 1,25,000/-. Therefore, assessing officer treated this unaccounted on-money payment of Rs. 1,25,000/- as unexplained investment u/s section 69 of the Act. 4. Aggrieved by the order of the Assessing Officer, the assessee carried the matter in appeal before the Ld. CIT(A) who has confirmed the action of the Assessing Officer, therefore, assessee is in appeal before this Tribunal. ....