2026 (1) TMI 971

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....- Ld. Sr. DR ORDER 1. Aforesaid appeal by assessee for Assessment Year (AY) 2017-18 arises out of an order of learned Addl./Joint Commissioner of Income Tax (Appeals)-7, Mumbai, [CIT(A)] dated 09-12-2024 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s 143(3) of the Act on 19-12-2019. The only grievance of the assessee is confirmation of addition of cash deposit for Rs....

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..... Aggrieved, the assessee is in further appeal before Tribunal. 3. It is quite clear that the assessee carries out substantial sales in cash only. The business is the only source of income for the assessee. The assessee deposited sales proceeds in his bank account. However, only a small portion of the same has been added as assessee's income simply because the same was accepted in first few day....