2026 (4) TMI 1175

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..... For the Respondent : Ms. Poonam Sharma, CIT DR ORDER PER BENCH: The present appeal is filed by assessee against the order dated 15.10.2025 passed by Ld. Commissioner of Income Tax (A), NFAC, Delhi ["Ld.CIT(A)"] u/s 250 of the Income Tax Act, 1961 ["the Act"] arising out of assessment order dated 07.11.2019 passed u/s 143(3) of the Act pertaining to Assessment Year 2017-18. 2. In s....

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..../s 143(3) for AY 2013-14 wherein cash balance on 31.03.2013 at INR 44,90,000/- was accepted which was carried over to the previous year relevant to year under appeal and after reducing the expenses incurred in the firm in subsequent assessment years and increased by the realization of debtors, the balance available was deposited in the banks. Ld.AR filed reconciliation statement before us accordin....

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....eard the contentions of both the parties at length and perused the material available on record. From the perusal of the balance sheet as on 31.03.2016 as appearing at page 13 of the order of Ld. CIT(A), capital balance of the proprietorship firm of the assessee i.e Aman Pipe Products was of INR 52,01,994/-. The assessee has tried to reconcile the said balance with the capital balance as appearing....

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....h cash book was prepared. It is further observed that Ld. CIT(A) has already allowed credit of INR 14,89,670/- towards the cash in hand available with the assessee as per balance sheet of the assessee as on 31.03.2016. Thus, in the light of these facts, we find no error or infirmity in the order of Ld.CIT(A) on this score therefore the addition of INR 42,95,330/- as sustained by Ld. CIT(A) is here....