2026 (5) TMI 670

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....ismissed. 3. Ground no.1 is general in nature. 4. The issue raised in ground nos.5,6,7,8 and 9 is against the confirmation of addition of Rs. 46,97,16,720/- by the ld. CIT(A) as made by the ld. AO on account of cash deposit in the bank account during the year by treating the same as unexplained cash credit u/s 68 of the Act, without rejecting the books of account u/s 145(3) of the Act by o applying the Section 115BBE of the Act. 5. The facts in brief are that the assessee is dealing and selling chicken under Howrah Municipal/ Chick Seller and during the year filed the return of income showing total income of Rs. 20,07,580/- filed on 13.03.2019. The case of the assessee was selected for scrutiny and statutory notices along with ques....

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....e basis of form 26AS doubted the deposit of total cash during the year of Rs. 46,97,16,720/- into the Punjab National bank and added the same to the income of the assessee u/s 68 of the Act. The sole basis for making the addition was Form 26AS. The assessee produced Form 26AS before us which is extracted below:- 8. We note that the information relied on by the ld. AO qua cash deposit into the bank account of the assessee was reversed in the in the said form 26AS and thereafter correct cash deposited in the current account was stated as Rs. 23,55,98,960/-. We note that the total turnover of the assessee as disclosed in the audited books of account were Rs. 38,38,33,413/-. The assessee has also furnished before us the month wise details of....

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..... CIT(A). We have perused and examined the details and documents placed before us and observe that the cash deposited into the bank account was out of cash sales. This being open and shut case and therefore not being restored to the file of CIT(A). In view of the above facts we are deciding the appeal at this stage only as the department has made a high pitched assessment that too without any basis on wrong facts and without any application of mind. Consequently, we set aside the order of ld. CIT(A) and direct the ld. AO to delete the addition. 10. In the result, the appeal of the assessee is allowed. Order pronounced on 27.03.2026. ============= Document 1 TDS Centralised Processing Cell TRACES TDS Reconciliation Analysis ....