2025 (12) TMI 1846

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....e Revenue : Shri Sumit Dasgupta, Sr. D.R., appeared on behalf ORDER Per Sonjoy Sarma, Judicial Member:- The present appeal is directed at the instance of assessee against the order of Id. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi dated 06.03.2024 passed for Assessment Year 2017-2018. 2. Brief facts of the case are that the assessee is an indivi....

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....ion from the assessee, the ld. Assessing Officer invoked section 69A and treated Rs. 65,11,720/- as unexplained money. Accordingly, the assessment was completed under section 144 of the Act. 3. Aggrieved by the above order, the assessee preferred an appeal before the Ld. CIT(Appeals) where the appeal of the assessee was partly allowed by applying section 44AD of the Act and estimated income at ....

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....ection 69A of the Act. The ld. CIT(Appeals), however, upheld the addition without properly considering the explanation. 4. Dissatisfied with the above order, the assessee is in appeal before this Tribunal. At the time of hearing, Ld. Authorized Representative for the assessee submitted that assessee is an old lady running a small medical shop and that the amount of Rs.2,50,000 deposited in the ....

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....f the Act on the current account deposits and computed net income at Rs. 4,87,522. The Savings Bank deposit of Rs. 2,50,000/- stands on a different footing. The assessee has consistently explained that the said amount was out of her past accumulated savings, withdrawn earlier for family and medical emergencies, and re deposited during the demonetization period as mandated by RBI. This explanation ....