2026 (1) TMI 985

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....KAS AWASTHY, JM: This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [in short 'the CIT(A)'] dated 10.07.2025, for Assessment Year 2015-16. 2. The assessment in the present case was framed u/s. 147 r.w.s 144 of the Income Tax Act,1961(hereinafter referred to as 'the Act') vide order dated 30.03.2024 making ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ounting to Rs. 19,00,000/-, and (iii) sale of agricultural land. The Assessing Officer accepted the explanation to the extent of cash withdrawal of Rs. 8,90,000/-. However, in respect of the remaining amount of Rs. 38,60,000/-, the AO held that the assessee failed to substantiate source of cash deposits with documentary evidence. Accordingly, the unsubstantiated cash deposits were added as unexpla....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....with supporting evidence. 5. Submissions made by both sides heard, orders of the authorities below perused. The short issue in appeal is the addition of Rs. 38,60,000/- sustained by the CIT(A). The AO during assessment proceedings had questioned cash deposits of Rs. 47,50,000/- in assessee's bank account. The assessee explained source of cash deposits as earlier withdrawals from the bank Rs. 8,....