TMI Blog2023 (3) TMI 409X X X X Extracts X X X X X X X X Extracts X X X X ..... r, it cannot be presumed that assessee was not having any cash in hand or past savings. Looking to the facts and circumstances, I deem it fit and proper to restrict the addition to the extent of 30%. I order accordingly. - ITA No. 131/DEL/2022 - - - Dated:- 9-3-2023 - SHRI KUL BHARAT , JUDICIAL MEMBER For the Assessee : Shri Neelesh Jain , CA For the Department : Shri Om Parkash , Sr. DR ORDER PER KUL BHARAT , JM : This appeal, by the assessee, is directed against the order of the learned Commissioner of Income-tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi, dated 26.11.2021, pertaining to the assessment year 2017-18. The assessee has raised following grounds of appeal: 1. That, the Learned C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... promulgated on 16th December 2016. 4. That the learned Commissioner of Income Tax (Appeals) has further erred both on facts and in law while disposing of the appeal in ignoring the partial submissions and explanations and further not allowing appellant to submit his final reply. Thus, the order of CIT (A) is vitiated in law for nonconsideration of the factual and legal submissions made and thus suffers from the vice of arbitrariness. 5. That on facts circumstances of the case the learned AO has erred in charging interest of Rs. 3,59,488/- u/s 234B of the income Tax Act, 1961 which is uncalled for, unlawful, unjustified, arbitrary and deserves to be deleted. 6. That on facts circumstances of the case the learned AO has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee. Aggrieved against this the assessee is in appeal before this Tribunal. 3. Ground no. 1 is general in nature, requires no separate adjudication. 4. Apropos to ground nos. 2 to 4, learned counsel for the assessee reiterated the submissions as made in the written submissions. He contended that learned CIT(Appeals) grossly erred in sustaining the addition. Learned counsel submitted that the amount was received as gift on the occasion of his marriage and also from parents. He submitted that under the facts of the present case the addition is not justified. 5. On the other hand, learned DR opposed the submissions and supported the orders of the authorities below. He contended that the assessee was required to give satisfactory explan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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