2026 (5) TMI 391

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.....R. For the Respondent : Shri Sher Singh, CIT.DR ORDER PER ANNAPURNA GUPTA, AM: The present appeal has been filed by the assessee against the order of the Ld. Income Tax Officer, Ward-2, Int. Tax, Ahmedabad (hereinafter referred to as "AO") dated 24.09.2025 passed under Section 147 r.w.s. 144C(13) of the Income Tax Act, 1961 (hereinafter referred to as the "Act") and relates to Assessm....

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.... and directed the AO to make the additions proposed. Accordingly, the order was passed by making addition on the two counts as noted above. 3. Ld. Counsel for the assessee drew our attention to the order of the DRP pointing out that before the DRP, the assessee had contended that the time deposits of Rs. 1.50 Crores in its HDFC Bank account had been sourced from the deposits made in his HDFC Ba....

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.... assessee to procure the statements from the bank itself, since, the bank required authority letter from the assessee and the assessee was unable to procure the same during the pendency of the proceedings before the Revenue authorities. He contended that the said bank statements have now been procured from the bank itself, duly stamped, and the assessee was now in a position to corroborate its exp....

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.... various parties and did not pertain to interest from NRE account. He drew our attention to the copy of the bank statement of Kotak Mahindra Bank placed before us at paper book page no.30 reflecting credits of Rs. 7,26,547/- on account of amounts deposited on various dates received by way of NEFT from Bank of Baroda Fortap and NEFT from Mandhana Industries Limited. He contended that correct facts ....