2025 (11) TMI 1481

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....the Respondent : Shri B.P Srivastava, Sr. DR ORDER PER DR. B.R.R. KUMAR, VICE-PRESIDENT:- The captioned appeal has been filed by the assessee against the order dated 17.06.2025 of the Ld. Commissioner of Income-tax (Appeals), National Faceless Appeal Centre, Delhi ("CIT(A)" in short), passed under Section 250 of the Income-tax Act, 1961 ("the Act" in short) for the Assessment Year 2017-18....

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....complete scrutiny through CASS for the purpose of verifying "cash deposits during the demonetization period." Accordingly, statutory notices under sections 143(2) and 142(1) of the Income-tax Act were issued to the assessee. In compliance, the assessee furnished replies along with supporting details. However, after considering the submissions, the Assessing Officer completed the assessment under s....

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....pliance to theses notices assessee has submitted reply. Considering the submission filled by the assessee the order was passed by the AO, u/s 143(3) and addition of Rs. 73,00,000/- was made on account of unexplained cash deposits u/s 69A. Resultantly, the income assessed in the impugned order is Rs. 82,69,831/-. Aggrieved by this decision, the assessee is in present appeal. 6.2 Ground No.....

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.... years and there having been no change in business or any other reason for sharp increasing cash deposit, the quantum of deposit is higher comparative to other years. Therefore, in interest of justice and normal plausibility of business cash deposit at Rs. 60,00,000/- are considered reasonable in this line of business and balance amount Rs. 13,00,000/- is confirmed in hands of the appellant. There....