2025 (4) TMI 1879

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... This appeal filed by the assessee is directed against the order of the Commissioner of Income-tax (Appeals)/ ADDL / JCIT(A), Mysore [hereinafter referred to as "CIT(A)" for short] dated 16.12.2024 passed under Section 250 of the Income Tax Act, 1961 [hereinafter referred to as "the Act" for short] for the Assessment Year (AY) 2017-18. 2. The solitary issue raised by the assessee is as under: -....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....served that the assessee has not filed reply and, therefore, once again the statutory notices were issued to the assessee. In response to the subsequent notices, the assessee filed details. The Assessing Officer observed that the cash deposits of Rs. 7,41,000/- in the Bank of Baroda's account pertained to assessee's individual proprietary concern viz. Maruti Enterprise. The source of cash deposite....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssment order, the assessee filed appeal before the CIT(A). The CIT(A) dismissed the appeal of the assessee. 5. The Ld. AR submitted that the assessee is a retailer of cotton seeds cake and flour, and the major sales of the assessee are on cash basis to various agriculturists, consumers and small businessmen working in the rural areas. The day-to-day cash generation was being used for purchases ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 6. The Ld. DR submitted that the assessee is not maintaining any books of accounts and the details of cash sales and purchase was not filed during the assessment as well as before the CIT(A). The Ld. DR relied upon the assessment order and the order of the CIT(A). 7. Heard both the parties and perused all the relevant material available on record. It is pertinent to note that the Assessing ....