2026 (5) TMI 827

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ition of the case, the Worthy CIT(A), NFAC in Appeal No. NFAC/201213/10238134 has erred in passing order dtd 09.06.2025 in contravention of provisions of S. 250 of the Income Tax Act, 1961 (hereinafter referred to as "Act"). 2. That on facts, circumstances and legal position of the case, Worthy CIT(A) has erred in upholding the action of Ld. AO of initiating, continuing and then concluding the impugned assessment u/s 148 r.w.s. 147 and hence the impugned assessment order deserves to be quashed. 3. That on facts, circumstances and legal position of the case, Worthy CIT(A) has erred in confirming the addition made by the Ld. AO of Rs. 28,00,000/- u/s 69 as an unexplained investment on account of cash deposit in bank. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....assing a de novo order for the addition of Rs. 28 lacs as undisclosed income but in the fresh assessment order passed by the Assessing Officer, the same addition has been repeated by the Assessing Officer and it has been confirmed by the CIT(A). Accordingly, the ld. Counsel requested that since the cash deposits made by the Assessee are from Assessee's liquor sales and they are reflected in the audited books of account, therefore, the same should be accepted. 5. Per contra, the ld. DR relied on the order of the Ld. CIT(A) on this issue, which reads as under:- "During appellate proceedings, the appellant has contended that the source of cash deposits is out liquor sales which are reflected in the regular audited books of accounts....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... but failed to produce the books of accounts, sales bills, and purchase bills to substantiate his claim. Therefore, the contention of the appellant is not found tenable. The facts of the case laws relied upon by the appellant are not identical to the facts of the present case. Hence, the same are not applicable to the appellant. In view of the above observations, the addition made by the AO is confirmed and grounds of appeal raised by the appellant are dismissed." 6. We have considered the findings given by the Assessing Officer in the assessment order and by the Ld. CIT(A) in the appellate order. We have also considered the arguments made by the ld. Counsel of the Assessee that the said cash deposits are very much reflected in the regul....