2025 (2) TMI 1699

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....he Respondent : Ms. Harpreet Kaur Hansra, Sr. DR ORDER PER AVDHESH KUMAR MISHRA, AM This appeal for the Assessment Year (hereinafter, the 'AY') 2017-18 filed by the assessee is directed against the order dated 21.08.2024 passed by the Commissioner of Income Tax (Appeals), NFAC, Delhi [hereinafter, the 'CIT(A)']. 2. Following grounds have been raised in this appeal: 1. "Ld. CIT....

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....ent, without service of penalty notices." 3. The relevant facts giving rise to this appeal are that the case of the assessee, a non-filer, was reopened on the basis of the information that the assessee had made cash deposit of Rs. 6,32,000/- during the relevant year including the demonetization period. Consequential assessment was completed, wherein the said cash deposits aggregating to Rs. 6,3....

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..... 6,32,000/-. Further, the ITAT, in view of the finding of the Hon'ble Madras High Court in the case of SMILE Microfinance Limited vs. ACIT, writ petition (MD) No. 2078 of 2020 and 1742 of 2020 (order dated 19.11.2024), has also held that the income of Rs. 1.00 Lakh upheld in the hands of the appellant assessee is not assessable under section 115BBE of the Act. 4. In view of the finding of the ....