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TMI Blog2023 (8) TMI 1281X X X X Extracts X X X X X X X X Extracts X X X X ..... RTHA SARATHI CHAUDHURY, JM: The Stay Application (SA) and the appeal preferred by the assessee emanates from the order of National Faceless Appeal Centre [NFAC], Delhi, dated 23.11.2022 for A.Y.2017-18 as per the grounds of appeal on record. 2. Regarding stay application, no arguments were put-forth by the ld.AR at the time of hearing, meaning thereby, assessee is not interested in prosecuting h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s are out of the sale proceeds. The AO did not accept the assessee's contention and added the amount of Rs. 54,26,000/- to the total income of the assessee as unexplained money u/sec. 69A r.w.s. 115BBE of the Act. The AO further, on perusal of the books of account produced by the assessee, held that assessee had made payments in cash towards purchases in contravention to the provisions of sec. 40A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etails of the customers from whom the cash collections in SBNs have been made during the demonetization were also filed before the Tribunal. Therefore, we do not find any infirmity with the order of the NFAC, the same is hereby upheld. 6. The next issue with regard to the addition of Rs. 93,29,812/- made in violation of the provisions of sec. 40A(3) of the Act. In the assessment order itself, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wever, no documentary evidences/ materials were furnished before the Tribunal substantiating and corroborating the claim of the assessee that they are covered under the exception of Rule 6DD of the Income Tax Rules. In view thereof, there is no need of interference with the findings of the NFAC which is upheld. Grounds of appeal stands dismissed. 7. In the result, Stay Application and appeal file ..... X X X X Extracts X X X X X X X X Extracts X X X X
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