2026 (3) TMI 1413

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ondent : Shri Vivek Vardhan (Addl. CIT) - Ld. Sr. DR ORDER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2017-18 arises out of an order of learned Commissioner of Income Tax (Appeals), NFAC [CIT(A)] dated 29-01-2025 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s 143(3) of the Act on 04-12-2019 making addition of ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f the assessee. 3. The Ld. CIT(A), vide para 5.3 of the impugned order, alleged that the assessee failed to provide corroborative evidence such as sales ledger or cash book. Therefore, the impugned addition was confirmed against which the assessee is in further appeal before us. 4. From submissions before us, it emerges that the assessee is engaged as commission agent for fruits and vegetabl....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the certified registers, ledger of Mall Khata, ledger of sales and purchases etc. (Page nos. 140 to 359 of the paper-book). The deposits in specified bank notes is only for Rs.28 Lacs which have been deposited on 12-11-2016 at one go. The assessee also furnished month-wise cash sales and closing balance of cash-in-hand as on 08-11-2016 which is Rs.55,23,715/- which has subsequently been deposited ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....is regularly filing Income Tax return declaring business income. The only reason to reject the claim of the assessee by Ld. AO is that cash deposits in corresponding period of earlier year was much less than the cash deposit during demonetization period which is clearly fallacious in nature. The same overlook the fact that there is substantial increase in consignment sales in this year. On these f....