2025 (3) TMI 1878

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....Leena Lal, Snr. AR ORDER PER SOUNDARARAJAN K., JUDICIAL MEMBER This is an appeal filed by the revenue challenging the order of the NFAC, Delhi dated 19/06/2024 in respect of the A.Y. 2017-18. 2. The brief facts of the case are that the assessee had not filed his return of income and based on the information available with the department about the cash deposits made into his bank accoun....

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....its as unexplained money u/s. 69A of the Act. The AO had also added the difference in the interest income received while computing the taxable income of the assessee. As against the said order, the assessee filed an appeal before the Ld.CIT(A). The Ld.CIT(A) based on the remand report given by the AO had accepted the case of the assessee and allowed the appeal filed by the assessee. As against the....

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....ws: "The assessee also stated that the assessee had made cash deposit of Rs. 1,81,51,612/- in the bank Account No. 40323070000068 (Current Account) with Syndicate Bank and Rs. 69,80,041/- in the account No. 514044039239 with Kotak Mahindra Snak Ltd. for the period from 01.04.2016 to 31.03.2017. All these transactions were accounted in the books of Account of the assessee. Assessee in his ....

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.... order of the Ld.CIT(A) seems to be a reasonable one. The Ld.CIT(A) had allowed the appeal after observing that "6.3 Further, noted that the appellant has shown in the audit report total sales/gross receipts of business of Rs. 5,86,62,078/- and also noted that the appellant has deposited cash of Rs. 1,81,51,612/- in bank account no. 40323070000068 at Syndicate bank current account and Rs.....