2025 (3) TMI 1765

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....Income Tax<br>SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER AND SHRI BALAKRISHNAN S., ACCOUNTANT MEMBER For the Assessee : Shri DL Narasimha Rao, AR (through Hybrid hearing) For the Revenue : Dr. Satyasai Rath, CIT-DR ORDER PER K. NARASIMHA CHARY, J.M: Aggrieved by the orders dated 25/06/2024 passed by the learned Commissioner of Income Tax (Appeals) ("Ld.CIT(A)"), National Faceless Appea....

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.... name of the firm way back on 20/06/2019 but no action was taken in that respect; whereas looking at the cash deposits in the IDBI bank to which the PAN on the name of firm was linked and no return of income being filed, learned Assessing Officer issued notice and making addition with reference to that PAN. The plea of the assessee all through is that all the cash deposits in the IDBI bank were sh....

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....in his order, learned CIT(A) found fault with the assessment resulting in additions in respect of the cash deposits in the IDBI bank and for not verifying the fact of such deposits reflected in the return of income filed by the assessee with reference to the PAN standing in relation to AOP, and directed the learned Assessing Officer to delete the additions. 5. Revenue could not contradict the f....