2025 (3) TMI 1915

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....hakar Verma, Sr.DR ORDER PER: DR. BRR KUMAR, VICE PRESIDENT: This appeal has been filed by the Assessee against the order passed by the Ld. Commissioner of Income Tax (Appeals)/National Appeal Centre vide order dated 30.09.2024 passed for the Assessment Year 2017-18. 2. The assessee has raised the following grounds of appeal 1. The learned CIT(Appeals) / NATIONAL FACELESS APPE....

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....the total deposits in bank account is wholly unjustified and very harsh. It be so held now. 3. The Id CIT(Appeals)/NFAC further erred in law and on facts in not appreciating that the appellant had furnished to the Id AO, the details of cash deposited for earlier Financial Year and the financial year relevant to assessment year under appeal with details of commission which showed that net ....

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....arge cash deposit. The Assessing Officer has brought an amount of Rs. 46,25,729/- being 20% of the turnover of the "business income " of the assessee. The Ld. CIT(A) determined the profit @ 8%. We find that the assessee is dealing with recharge coupons of mobile service providers and has sold the recharge coupons in cash. Keeping in view the realities of the business of the profit allowed by the p....