2025 (2) TMI 1672

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....ER PER: SMT. BEENA PILLAI, J.M.: The present appeal filed by the assessee arises out of order dated 11/09/2024 passed by Ld.CIT(A) - 52 for assessment year 2017-18 on following grounds of appeal : "1. Under the facts and circumstances of the case and in law the order passed by Ld. CIT(A) is bad in law on various grounds inter-alia including but not restricting to violation of Natura....

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....peal, each of which are without prejudice to one another." Brief facts of the case are as under: 2. Assessee is an individual and filed its return of income 30/01/2018 declaring total income at Rs. 23,65,750/-. It is submitted that an information was received on 19/12/2016 by the Investigation wing Mumbai, from police inspector that cash of Rs. 25 lacs was found in possession of assessee dur....

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....AO assessee preferred the appeal before the Ld.CIT(A). 3. The Ld.CIT(A) upheld the addition as assessee could not explain the source of the cash found and seized. Aggrieved by the order of the Ld.CIT(A) assessee preferred the appeal before this Tribunal. 4. The Ld.AR at the outset submitted that assessee had cash on hand amounting to Rs. 15,14,268/-. In support of the same he filed capital a....

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....e authorities below. I have perused the submission advance by both sides in the light of records placed before this Tribunal. 5. Admittedly, there is cash in hand as opening balance for the year under consideration amounting to Rs. 15,14,268/-. The assessment for assessment year 2016-17 was completed u/s. 143(3) of the Act accepting the financials submitted by the assessee. There is nothing ....