TaxTMI 
TaxTMI 
2026 (9) TMI 1882
X X X X Extracts X X X X
X X X X Extracts X X X X
....er 23-12-2019 for A.Y. 2017-18. 2. The assessee has raised the following grounds in appeal:- 1. On the facts and in the circumstances of the case and in law the order passed by the learned Assessing Officer and the addition made therein is bad -in -law and CIT(A) erred in not holding so. 2. On the facts and in the circumstances of the case and in law the order passed by the CIT(A) erred in confirming the addition made by the Ld. Assessing Officer of Rs. 29,50,000/- on account of alleged unexplained cash deposits in bank u/s 68 of the Act. 3. On the facts and in the circumstances of the case and in law the order passed by the CIT(A) erred in confirming the addition made by the Ld. Assessing Officer of Rs. 2,96,6....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e the addition of Rs. 39.660/- under section 37 of the Act. Penalty proceedings were also initiated against the assessee. Aggrieved the order the assessee preferred the appeal before the Ld. CIT(A), who vide his order dated 25-11-2025 dismissed the appeal of the assessee. 4. The Assessing Officer completed the penalty proceedings and levied the penalty of Rs. 6,23,520/-. Aggrieved the order of the Assessing Officer the Assessee filed the before the Ld. CIT(A), who dismissed the appeal of the assessee. Being aggrieved the order of the Ld. CIT(A), the assessee is in appeal before the Tribunal. Ground No.-1 Is general in nature. Ground No.-2, 4 & 5 5. Ld. AR of the assessee submitted that Assessing Officer has erred making the addi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....failed to explain the cash deposit so the appeal was rightly dismissed by the Ld. CIT(A). 7. We have the parties and perused the materials available on record. According to AO the assessee company deposited cash of Rs. 54,00,000/- in the bank account number 50200009113155 maintained with the HDFC Bank. After the analysis the cash deposit trend of the assessee in various year the AO observed that there is abnormal increase in cash deposit during the F.Y.2016-17 and made the addition on the basis of cash deposit pattern. The assessee has not made any cash sales and cash deposited out of cash balance in hand. The Assessing Officer has not pointed out any specific defect or discrepancy in the Account Books maintained by the assessee. The ass....