2025 (2) TMI 1374

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.... Revenue : Shri Kishor Dhule, CIT D/R ORDER PER NARENDRA KUMAR BILLAIYA, AM: This appeal by the assessee is preferred against the order dated 03/11/2023 by NFAC, Delhi [hereinafter 'the ld. CIT(A)'], pertaining to AY 2017-18. 2. The solitary grievance of the assessee is that the ld. CIT(A) erred in confirming the addition of Rs. 15,01,57,610/- on account of sale of old cars and also tr....

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....ee explained that it has closed down its business in FY 2017-18 for which no details were furnished. On perusal of the details, the AO sought clarification from the assessee with regard to the true value cars relating to sale of old cars. The assessee was asked to furnish the names of those customers against whom no PAN, address, details are made available and was further showcaused why the sales ....

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....buyers, are submitted and went to add the income of the assessee u/s 68 of the Act and made the impugned addition. 3.2. Assessee carried the matter before the ld. CIT(A) but without any success. 4. We have given a thoughtful consideration to the findings of the lower authorities. There is no dispute that the assessee was selling old cars which were purchased by exchange of old cars with new ....