2026 (1) TMI 1625

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....'s appeal for assessment year 2012-13, arises against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [in short, the "CIT(A)/NFAC"], Delhi's DIN & Order No: ITBA/NFAC/S/250/2022-23/1047998826(1), dated 14.12.2022 involving proceedings under section 144 of the Income-tax Act, 1961 (hereinafter referred to as 'the Act'). Heard both the parties. Case file perused. 2. De....

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.... further appears to have deposited cash of Rs. 12.29 lakhs in Assessment Year 2011-12 which stood accepted in the Assessing Officer's section 143(3) assessment framed on 06.12.2018 (page-10 of the paper book). All this gives rise to a prima facie inference in assessee's favour and against the department is that the impugned cash deposits represent his cash sales turn over and cash in hand which co....