2026 (1) TMI 938

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....rred to as 'ld. AO'). 2. At the outset, I find that there is a delay in filing of appeal by the Assessee before this Tribunal by 325 days. Considering the reasons adduced in the condonation petition, I am inclined to condone the delay in the interest of substantial justice and admit the appeal of the Assessee for adjudication. 3. The only issue to be decided in this appeal is as to whether the Learned CIT(A) was justified in confirming the addition of Rs 5,63,204/- on account of alleged unexplained cash deposits in the bank account during April and May 2016 under section 69A of the Act in the facts and circumstances of the instant case. 4. None appeared on behalf of the Assessee. However, the written submission of the Assessee was ....

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....f accounts in the cash book of the Assessee. Hence, it was submitted that the source for the cash deposits gets emanated out of the regular books of accounts and business receipts of the Assessee and cash withdrawals of the assessee and therefore, no addition is warranted thereon. 6. The learned AO noted that during the course of assessment proceedings, Assessee had filed submissions that Assessee has got the agency of IFFDC and maintained full and complete accounts with all bills and vouchers in respect of fertilizers dealt with by him. The Assessee also submitted the entire cash book and bills of IFFDC and also submitted details of month wise cash deposits made in the bank account. The learned AO noted that on perusal of the details fi....