2025 (11) TMI 1394

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....Income-tax Act, 1961 [the Act] dated 23.12.2019 by the ITO, Ward 6[2][4], Bengaluru was dismissed. 2. The assessee is aggrieved with the addition of Rs. 811,250/- as unexplained cash credit u/s. 68 of Act being difference between the cash on hand as on 8.11.2016 and opening cash balance as on 9.11.2016 shown by the appellant in the cash statement produced before the ld. AO was confirmed. 3. The brief facts of the case the assessee is a partnership firm carrying on the business in rice, wheat and wheat products, Sugar, foodgrains, filed its return of income on 5.11.2017 at a total income of Rs. 716,490/-. The return was picked up for scrutiny and notice u/s. 143 (2) was issued on 24 September 2018. The assessee was asked to provide cer....

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....me at Rs. 1,527,740/- by an assessment order passed on 23 December 2019. 5. The assessee approached the learned CIT(A) and explained the complete details before him, the learned CIT(A) did not find any merit in the appeal and confirmed the addition. Therefore, assessee is in appeal before me. 6. The learned authorised representative submitted the cashbook, showing the cash deposits during the demonetisation period, also submitted the complete details of the books of accounts and stated that when the complete books of accounts are available before the ld. AO and there is no discrepancy, the addition should not have been made. He also explained that the error has happened because of the records from the custom-made software which did no....

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....s such difference and therefore he made the addition. The learned CIT(A) was also shown the same facts, but he confirmed the order of the learned AO. The arguments of the learned authorised representative if considered in proper perspective, it will show that as assessee is maintaining its books of account on some custom-made software mentioned above, two different types of statement were printed and produced before the assessing officer. It is not known that how this difference has been stated in the statement. Assessee tried to explain the same before the assessing officer stating that assessee has been maintaining its books of account since inception in that particular software which is custombuilt for the type of business carried on by ....