2026 (5) TMI 1195

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....lra, Sr. DR ORDER PER AMITABH SHUKLA, AM, This appeal filed by the assessee is against order dated 16.06.2025 of National Faceless Appeal Centre/learned Commissioner of Income Tax(Appeals), New Delhi, [hereinafter referred to as 'ld. CIT(A)] arising out of assessment order dated 19.04.2021 passed under section 144 of the Income Tax Act, 1961 pertaining to Assessment Year 2017-18. The word....

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....(b) The appellant is consistently assessed under section 44AD, where maintenance of books is not statutorily required, and cash holdings from business receipts are permissible; (c) The addition has been sustained purely on conjectures and surmises without any contrary material; and (d) Section 694 is inapplicable as the cash deposits were itself declared in ITR. 3. Penal....

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....peal is regarding the confirmation of addition of Rs. 2,47,500/- by the ld. CIT(A) u/s 69A of the Act. As per brief factual matrix of the case the appellant is a lady engaged in small time business and has been filing her return of income qua provisions of section 44AD of the Act. The ld. AO had noted that there was a cash deposit of Rs. 3,47,500/- in the back account of the assessee during the de....

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....e orders of the lower authorities. 6. We have considered the rival submissions in the light of material placed on record. The only issue is regarding the truthfulness of the assessee's statement of past savings with reference to the cash deposit of Rs. 3,47,500/- in her bank account during demonetization period. As the assessee been filing here return u/s 44AD, she would not naturally behaving ....