2025 (3) TMI 2143

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....esta, Sr. DR ORDER PER MANISH AGARWAL, AM, This is an appeal filed by the Assessee against the order of ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi in Appeal No. CIT(A), Delhi-15/10438/2019-20 dated 30.01.2024 for Assessment Years 2017-18. 2. Brief facts of the case are that assessee is an individual and filed his return of income on 25.07.20....

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....ng interest income from Gujrat Cooperative Milk Marketing Federation Limited. Finally, reply to notice issued u/s 142(1), the assessee stated that he is the distributor of Gujrat Cooperative Milk Marketing Federation Limited and having income from distribution is the commission only and the entire cash deposit was the cash sales of milk. Since, the assessee has neither filed further details nor an....

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....f profit rate on the same, has restricted the addition to Rs. 47,02,360/- as against Rs. 58,77,949/- made by AO. 3. Aggrieved by the said order, assessee is in appeal before the Tribunal wherein the sole ground of the appeal with regard to the confirmation of the addition of Rs. 47,02,360/- being 8% of total cash deposit of Rs. 5,87,79,491/-. 4. Before us, Ld. AR submitted that assessee is a....

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.... distributor of Amul Milk supplied by Gujrat Cooperative Milk Marketing Federation Ltd. The sales made by the assessee were in cash and the sale proceeds were deposited in the bank account. During the course of appellate proceedings, assessee has filed all the necessary details before the CIT(A). After obtaining the remand report from the Assessing Officer, the Ld. CIT(A) has admitted such evidenc....