2026 (2) TMI 940

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....his is an appeal preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the "Ld. CIT(A)"] dated 19.11.2025 for the AY 2014-15. 2. The only issue raised by the assessee in the grounds of appeal is against the confirmation of addition of Rs.36,62,530/- by the ld. CIT (A) as made by the ld. AO in respect of cash deposits during the yea....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he assessee did not find favour with the AO and he added the entire cash deposit of Rs. 68,00,000/- to the income of the assessee on the ground that the assessee could not satisfactorily explain the source. 4. In the appellate proceedings lde. CIT(A) after taking into account the evidences and submissions of the assessee, partly allowed the appeal by deleting the addition to the tune of Rs. 31,....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s of catering etc. under proper trade license issued by Municipal Corporation, Kolkata. The assessee submitted before us that the money was received from the business in the ordinary course of business and therefore, the ld. CIT (A) has not appreciated the fact correctly and only deleted the addition to the tune of Rs.31,37,470/- based upon debit entries in the bank account as against the total di....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....h Courtin case of Commissioner of Income-tax-II vs. Surinder Pal Anand [2010] 192 Taxman 264 (Punjab & Haryana)/[2011] 242 CTR 61 (Punjab & Haryana)[29-06-2010], wherein it has been held that once the assessee has shown the income at the rate of 8% u/s 44AD of the Act then there is no obligation to explain each and every entry of cash deposit in the bank account. We also note that the addition has....