TaxTMI 
TaxTMI 
2026 (2) TMI 304
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.... 1. On the facts and circumstances of the case and in law, the assessment order, having being passed without following the principles of natural justice, as narrated in the statement of facts, the same is bad in law and hence needs to be quashed. The appellant prays that it be held accordingly. 2. On the facts and circumstances of the case and in law the CIT(A), NFAC erred in confirming the addition made by the Assessing Officer, NaFAC, Delhi (hereinafter referred to as the 'AO) u/s 69A of Rs. 1,55,73,900/- representing cash deposits in various bank accounts other than current account of the appellant, ignoring the submissions of the appellant in this respect. The appellant prays that the AO be directed....
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....rrent Bank Account why the assessee has deposited cash of Rs. 1,55,73,900/- in the saving Bank Account. Ld. AO concluded the assessment proceedings making addition u/s 69A of the Act for unexplained money of Rs. 1,55,73,900/- and also addition of 10,445/- on account of undisclosed commission income. Income assessed at Rs. 1,55,92,305/- Aggrieved assessee preferred appeal before Ld. CIT(A) and filed the submissions on 23.01.2025 and 08.02.2025. However Ld. CIT(A) though considering these submissions has dismissed the assessee's appeal observing as follows:- 2. The grounds of appeal object to addition of Rs. 1,55,73,900/- being cash deposits in various bank a/c of the appellant. On examination of details available on record, it is no....
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....known; such income is covered under the provisions of Section 69A of the Act in view of the scheme of those provisions. In the light of above points, cash deposit of Rs. 1,55,73,900/- should be treated as unexplained Money u/s. 69A of the Income tax Act 1961 added to the total income and the same is confirmed. 3. The assessee received commission receipt of Rs. 1,30,551/- and the same is not disclosed in his return of income. During the assessment proceeding the assessee was asked to furnish details of commission receipts. But the assessee has not replied. Therefore, 10,445/- i.e. (8% of the total contract receipt of Rs. 1,30,551/-) is added to the total income of the assessee. The addition of Rs. 10,445/- is confirmed. 4. ....
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....e before the Ld. AO as well as Ld. CITA). However Ld. CIT(A) has not taken them into consideration and also submitted that the addition of Rs. 10,445/- made by the AO for assuming commission income is also declared and the same forms part of agricultural income. 6. On the other hand Ld. Departmental Representative (DR) supported the order of the Ld. AO and submitted that Ld. CIT(A) has not referred to any details filed by the assessee. Secondly he stated that when the assessee was having Current Account why the cash was deposited in saving Bank account. 7. We have heard rival contentions and perused the record placed before us. Assessee is aggrieved with the finding of Ld. CIT(A) confirming the addition of Rs. 1,55,73,900/- made by AO....
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.... Account, Term Loan Account and saving bank account held with various banks including Ashta People Co-operative Bank. 9. During the course of hearing, Ld. Counsel for the assessee has referred to the cash book as well as the Bank Statement and has successfully demonstrated that the cash deposit in the alleged saving bank account are duly recorded in the books of account M/s Vikas Hi-Tech Nursery. Reference has been also made to the certificate issued by the CA Shri Khire Khandekar and Kirloskar dated 28.03.2022 who has been certified that the alleged cash sum of Rs. 1,55,73,900/- has been deposited out of sale proceeds of the nursery. For reference the certificate is reproduced below:- 10. On going through the above Certificate and al....