2025 (11) TMI 462

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....esh Rao, ITP For the Revenue : Shri Ganesh R Ghale, Standing Counsel for Department ORDER PER WASEEM AHMED, ACCOUNTANT MEMBER: This is an appeal filed by the assessee against the order passed by the NFAC, Delhi vide order dated 11/11/2024 in DIN No. ITBA/NFAC/ S/250/2024-25/1070241892(1) for the assessment year 2017-18. 2. The issue before us is whether the addition of Rs.14,10,000 ....

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....sh deposits were duly accounted. The assessee is running a petrol pump business with a turnover exceeding Rs.37 crores. The books of accounts are duly audited. The alleged deposits are reflected in such books and in the return of income. 5. It was further argued that the AO has not specified any particular bank account number where alleged cash was deposited. As such, there are substantial depo....

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.... SBI bank account runs into several crores of rupees especially in the OD account bearing No. 770803. Besides, there were 2 more bank accounts in the SBI bearing Nos. 613385 and 402260 where the cash deposits were of few thousand rupees only in the year under dispute. Thus, it was contended by the assessee that the basis of alleging that there is a cash deposited in the SBI bank account amounting ....

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....opportunity when the assessee has already filed all necessary details. In our considered view, once the assessee has furnished complete evidence such as audited accounts, cash book, and reconciliation, there is no justification to remand the matter. The addition is made on the same cash which is recorded in the books. The net cash position is already disclosed. When the cash deposits are fully exp....