9911796707
TMI Blog2023 (2) TMI 626X X X X Extracts X X X X X X X X Extracts X X X X ..... 2017-18 is directed against the order dt. 11-12-2021 passed u/s. 250 of the Income-tax Act, 1961 [ hereinafter, referred to as 'the Act'] by the ld. Commissioner of Income-tax, Appeals [ in short, hereafter referred to as 'the 'ld. CIT(A) (National Faceless Appeal Centre), Delhi 2. The assessee has raised the following grounds of appeal:- That the fact and circumstances of the case the ld. Com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce of cash deposit of Rs.27,50,000/- during the period 09.11.2016 to 31.12.2016. The assessee filed complete details. However, the ld. AO was not satisfied with regard to the cash deposit of Rs. 10 lakhs and accepted the assessee's contention explaining the balance of Rs. 17,50,000/-. The ld. AO accordingly made the addition of Rs.10,00,000/- u/s. 68 of the Act along with other minor addition of R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h book. Therefore, no addition was called for. 8. Per contra, the Ld. Departmental Representative vehemently argued supporting the orders of the lower authorities and also stated that the assessee has kept changing its submissions explaining the alleged cash deposit. During the assessment proceedings it was claimed that the cash has withdrawn from bank prior to said deposit and thereafter before ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cash in hand with the assessee was Rs.61,90,148/-. Thereafter, on 08-11- 2016 various payments have been made in cash to sundry creditors and thereafter, during 11-11-2016 to 18-11-2016 cash amount of Rs. 27.50 lakhs was deposited in the bank. Part of the said sum of Rs. 17.50 lakhs has already been accepted by the ld. AO as explained. Remaining sum of Rs. 10 lakhs has also been deposited in the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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