2025 (4) TMI 2059

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.... PER M. BALAGANESH, A. M.: 1. The appeal in ITA No. 17/DDN/2024 for AY 2017-18, arises out of the order of the Commissioner of Income Tax (Appeals)-10, Mumbai [hereinafter referred to as 'ld. CIT(A)', in short] in appeal No. ITBA/APL/S/250/2023-24/1058638883(1) dated 11.12.2023 against the order of assessment passed u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') ....

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....income. Despite the explanation given by the assessee in this regard, merely because cash was deposited during demonetization period, a sum of Rs. 7,50,000/- was treated as unexplained money in the hands of the assessee u/s 69A read with Section 115BBE of the Act by the ld AO, which stood upheld by the ld NFAC. 4. As stated supra, the assessee's agricultural income disclosed in the return for t....