2025 (11) TMI 1833

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.... ORDER PER GAGAN GOYAL, A.M: This appeal by assessee is directed against the order of NFAC, Delhi dated 24.01.2025 passed u/s. 250 of the Income Tax Act, 1961 (in short 'the Act'). The assessee has raised the following grounds of appeal: - 1. That on the facts and law in the circumstances of the case, the ld. CIT(A) grossly erred in passing the ex-parte order without considering the....

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....bank account during the F.Y. 2016-17. In response to the said notice, assessee has submitted reply on 19.03.2022 along with copy of original ITR, Computation of Income and copy of sale account from 08.11.2016 to 30.12.2016. On perusal the replies, it is found that the assessee has not furnished satisfactory reply as the amount of cash deposit was related to the period of demonetization period. No ....

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.... dismissed the appeal of the assessee. The assessee being further aggrieved filed the present appeal before us. 4. We have gone through the order of the AO, order of the ld. CIT (A) and submissions of the assessee along with grounds taken before us. It is observed that there are no comments on the books of accounts maintained by the assessee, i.e. found to be reliable and no deficiency pointed ....

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....ssee denies accepting the SBNs, certainly he will lose the business, and the customers will go to the neighbouring filing stations. This was not the agenda of demonetization; the agenda was well defined and circulated amongst the public also. 6. The assessee being governed by the strict rules and regulation for dealing with highly inflammable items and duly registered with the State Govt.'s Dis....