2026 (2) TMI 256

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....l at the instance of the assessee is directed against the order of Learned Commissioner of Income Tax (Appeals)/NFAC, Delhi ["CIT(A)"], dated 17.06.2025 passed under section 250 of the Income Tax Act, 1961 ("Act") which is arising out of order u/s. 143(3) of the Act, dated 27.12.2019 for the Assessment Year (AY) 2017-18. 2. When the case called for, none appeared on behalf of the assessee. On t....

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....in the e-return for A.Y. 2017-18 furnished on 31.10.2017. The return selected for complete scrutiny under CASS for the reason that "low income from TCS receipts-scrap" and is duly assessed under VAT Act and quarterly sales figures have been declared therein. Books of accounts are regularly maintained and that the sales are made out of stock available with the assessee. From the assessment order, I....

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....les have been filed. In absence of any contrary material, I find that the source of cash deposits is from the cash sales of business activity carried out by the assessee. However, since no proper details filed before this Tribunal inspite of providing sufficient opportunities and also other necessary details are not emerging from the available records, therefore, I deem it appropriate to estimate ....