2025 (2) TMI 1320

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....i B Naveen Kumar, DR ORDER PER LALIET KUMAR, J.M This appeal filed by the assessee is directed against the order dated 18/11/2024 of the learned CIT(A)-/ADDL/ JCIT(I)-10 Mumbai, relating to A.Y.2017-18. 2. Although a number of grounds have been raised by the assessee, however, these all relate to the order of the learned CIT(A) in sustaining the disallowance made by the Assessing Offic....

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....asked to explain the nature of business carried, cash flow statement for the year 2016-17. In response, the assessee submitted the copies of bank account statements maintained with Axis Bank, Vijaywada, Andhra Pradesh and State Bank of India, NRI Branch, Vijaywada during the F.Y.2016-17 along with copy of return of income for the A.Y.2017-18. With regard to the nature of business, the assessee sub....

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....hese amounts were received from B. Chinamma and R. Krishna Murthy out of their agricultural income and same were deposited by clients for the payment of self-assessment tax. Since, the assessee did not submit any supporting evidence for these receipts, he Assessing Officer treated this amount of Rs. 5,38,000/- as his unexplained cash deposits and added to the income returned. 4. Being aggrieved....

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....n previous years. Thus, he prayed that the addition so made by the Assessing Officer and upheld by the learned CIT(A) should be deleted. 7. On the other hand, the learned DR relied upon the orders of the authorities below. 8. We have heard the rival contentions and perused the available material on record. Before us, the assessee was able to demonstrate the availability of cash from his moth....