2025 (2) TMI 1812

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....MEMBER : The captioned appeal pertaining to Assessment Year 2017-18 at the instance of assessee is directed against the order dated 14.06.2024 passed by National Faceless Appeal Centre, Delhi u/s.250 of the Income-tax Act, 1961 (in short 'the Act') which in turn is arising out of Assessment Order dated 18.03.2022 passed u/s. 147 r.w.s.144B of the Act. 2. Ground of appeal raised by the assess....

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....g of notices u/s.143(2)/142(1) of the Act. The assessee did not file any return in compliance to notice u/s.148 of the Act. In the course of assessment proceedings, ld. AO noticed that during the demonetization period cash of Rs. 23,29,000/- was deposited in the bank account. Since the assessee failed to make proper response alleged sum was added in the hands of assessee invoking section 69A of th....

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....ntirety, in my considered opinion, addition to the extent of Rs. 10,00,000/-, will be reasonable to meet the ends of justice and balance amount of Rs. 13,29,000/-, is deleted. All the grounds of appeals are decided accordingly." 5. Now the assessee is in appeal before the Tribunal against the part relief granted by the ld.CIT(A). 6. Ld. Counsel for the assessee submitted that the alleged cas....

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..../s.44AB of the Act stands uploaded and regular return was furnished on 04.11.2017. Ld. AO has not disputed the cash deposits other than those during the demonetization period. Alleged cash has been deposited in the bank account and books are regularly maintained for its business purposes. Only on account of reason that it could not furnish the details, the impugned addition was made. Ld.CIT(A) has....