2025 (4) TMI 2016

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....al filed by the assessee is directed against the order of the National Faceless Assessment Centre / Commissioner of Incometax (Appeals) ["CIT(A)" for short] dated 31.01.2025 for the assessment year 2017-2018. 2. Brief facts of the case are that the appellant is an individual, engaged in the business of distributor of DTH recharge coupon of Airtel, in the name and style of S.M.Communication. The....

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....Being aggrieved, an appeal was filed before the CIT(A), who vide the impugned order, confirmed the action of the AO by observing that the appellant has failed to maintain books of account, so the explanation of the appellant in support of the source of cash deposits was not acceptable. 4. Being aggrieved, the appellant is in appeal before the Tribunal, in the present appeal. 5. I heard the r....

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.... books of account the explanation offered cannot be accepted. In my considered opinion, the material on record clearly indicates that the appellant filed the return of income disclosing an income of Rs. 4,07,550 from the business of dealing in mobile and recharge coupon. The provisions of the Income-tax Act does not mandate an assessee to maintain the books of account compulsorily. When the appell....