2026 (3) TMI 1008

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....RDER This appeal at the instance of the assessee is directed against the order of Ld. Commissioner of Income Tax (Appeals)/NFAC, Delhi ["CIT(A)"], dated 12/08/2025 passed u/s. 250 of the Income Tax Act, 1961 (for short, 'the Act') which is arising out of assessment order dated 19.03.2024 passed u/s. 143(3) r.w.s. 144B of the Act for the Assessment Year 2022-23 (A.Y.) 2. The sole grie....

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.... placed before me. I observe that assessee is an individual and filed return of income for A.Y. 2022-23 on 11.07.2022 declaring income of Rs. 29,330/- along with business loss of Rs.58,560/-. Based on the information about large turnover but books of accounts are not audited u/s. 44AB of the Act, case of the assessee selected for complete scrutiny through CASS. Various details called for by the Ld....

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....nts of loans taken by the assessee from his friends and relatives. For example, Rs.2,000/- taken from Mr. Vitthal Tukaram Chaudhari, Rs.2,150/- from Mr. Jayant Laxmanrao Nimkar, Rs. 3,500/- from Mr.Kohok Ganesh Gangadhar, Rs. 1,000/- from Mr. Sagar Ashok Chitale, Rs.39,528/- from Mr. Dhere Pramod Navnath and others. Complete details of the alleged sum have been placed in the paper book. In total t....