2025 (4) TMI 1991

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.... PER PRADIP KUMAR KEDIA, AM : The captioned appeal has been filed at the instance of the assessee seeking to assail the First Appellate order dated 04.12.2024 passed by Commissioner of Income Tax (A), National Faceless Appeal Centre ("NFAC"), Delhi ["CIT(A)"] under s. 250 of the Income Tax Act, 1961 ["the Act"] arising from the assessment order dated 06.12.2019 passed under s. 143(3) of the ....

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...., the assessee explained that he was working in the Finance Department of Samsung India Ltd. During the FY 2015-16 relevant to AY 2016-17 prior to demonetization period, the assessee had made cash withdrawals of INR 13,07,500/-. The assessee has also explained the household expenditure incurred. The assessee is also having cash amount at his disposal at the beginning of FY to meet emergency needs ....