2026 (3) TMI 1403

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....l at the instance of assessee pertaining to A.Y. 2017-18 is directed against the order dated 13.06.2025 framed by Addl/JCIT(A), Panchkula (NFAC) arising out of Assessment Order dated 26.12.2019 passed u/s. 143(3) of the Income Tax Act, 1961 (in short 'the Act'). 2. The sole grievance of the assessee is against the addition for unexplained cash credits of Rs.16,88,000/-. 3. At the outset, ld.....

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....s.73,05,373/- has not been disputed by the ld. Assessing Officer as the same has been arrived at by withdrawing the cash from 01.04.2016 to 31.10.2016 and therefore the impugned addition deserves to be deleted. 4. On the other hand, ld. DR supported the order of ld.CIT(A). 5. I have heard the rival contentions and perused the record placed before me. I observe that the assessee is a Private ....

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.... on 28.11.2016). However, cash deposited from 01.12.2016 to 27.02.2016 in the old denominations totalling to Rs.16,88,000/- has been treated as unexplained by the Assessing Officer. Reason given by both the lower authorities is very general and only doubting that why the assessee has not deposited the cash in hand in the month of November 2016 itself. 6. I fail to find any justification in such....

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..... Assessing Officer has accepted the source of cash deposit during November 2016 at Rs.38.00 lakh, I therefore fail to find any justification in the finding of ld.CIT(A) affirming the action of Assessing Officer making the impugned addition for unexplained cash deposit at Rs.16,88,000/- even though sufficient cash in hand is available with the assessee in the regular books of account from the cash....