2026 (3) TMI 1009

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.... the assessee is directed against the order of Ld. Commissioner of Income Tax (Appeals)/NFAC, Delhi ["CIT(A)"], dated 11/08/2025 passed u/s. 250 of the Income Tax Act, 1961 (for short, 'the Act') which is arising out of assessment order dated 20.01.2025 passed u/s. 147 r.w.s. 144 r.w.s. 144B of the Act for the Assessment Year 2019-20 (A.Y.) 2. At the outset, learned counsel for the asse....

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....nt through cheque and cash should be examined in the hands of the assessee's husband. An alternative contention has also been made that in order to explain the source of alleged cash investment of Rs. 3,40,000/-, assessee has sufficient material evidence in the form of cash withdrawn by the assessee's mother-in-law on 20.04.2018 & 09.05.2018 which has been given to the assessee as a gift and was u....

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.... carried out u/s. 133A of the Act at the business premises of M/s. Quality Trading Company and in such impounded documents, there was information about payments of purchase of flat No. 306 at Zingabai Takli, Nagpur and in such ledger account along with cheque payment, there is a mention of cash payment of Rs. 3,40,000/- on 20.10.2018. The assessee was unable to make submissions before the Ld.AO re....

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....ls by the assessee's mother-in-law from a bank account given as a gift to the assessee, which has been utilized for making the alleged payment. 9. So far as first contention of the learned counsel for the assessee is concerned, I failed to find any merit because the flat has been jointly purchased in the name of the assessee and her husband and Ld.AO has carried out re-assessment proceedings. E....