2026 (1) TMI 602

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.... has been preferred by the assessee against order passed by the Ld.Commissioner of Income-Tax (Appeals), ADDL/JCIT(A)-5, Kolkata [hereinafter referred to as "ld.CIT(A)] dated 09.12.2024 under section 250 of the Income Tax Act, 1961 ("the Act" for short) for the assessment year 2017-18. 2. The assessee, in this appeal, is aggrieved by the action of the ld.CIT(A) in confirming addition made by th....

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.... from the bank of Rs. 15.00 lakhs on 19.3.2016. The AO, however, observed that from the record it revealed that the assessee has taken loan of Rs. 20 lakhs on 15.3.2016 and out of that he had withdrawn an amount of Rs. 15 lakhs on 19.3.2016. He also observed that from the above facts, it revealed that the assessee was in need of cash, and hence he had taken loan on interest in March, 2016, which m....

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.... during financial year 2016-17. 3. Average household expenses per month during financial year 2016- 17. 4. Date wise cash flow statement / cash account from 1/4/2014 to 31/3/2017. 6. However, since the assessee failed to furnish the aforesaid documents and did respond to the notice issued by the ld.CIT(A), he confirmed the addition so made by the AO. Being aggrieved by the ord....