9911796707
TMI Blog2024 (10) TMI 347X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 25.09.2023 passed by the CIT(A), National Faceless Appeal Centre (NFAC), Delhi for the Assessment Year 2017-18. 2. The assessee has raised the following grounds of appeal :- "1. The Learned Commissioner of Income tax (Appeals) has erred in facts and in law and confirmed the addition made by Assessing Officer Amt. of Rs.35,29,394/- u/s. 68 of I.T. Act as a unexplained cash credit for cash d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee electronically. Thereafter, notice under Section 142(1) was issued on 05.10.2019 and 17.06.2019 calling for details such as return of income, computation etc., cash book, Bank statement and source of cash deposit made by the assessee etc. in her bank account. During the assessment, the assessee furnished sale register, cash book with some bills of sales. The Assessing Officer observe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct treating the cash sales shown as unexplained cash credits within the meaning of Section 68 of the Act. 4. Being aggrieved by the Assessment Order, the assessee filed appeal before the CIT(A). The CIT(A) dismissed the appeal of the assessee. 5. The Ld. AR submitted that once the Assessing Officer has accepted the assessee's sales, so cash generated through selling of gold ornaments and the sam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that the transaction related to the jewellery in respect of cheque was accepted and, therefore, the transaction in cash should also be accepted as the same is recorded in cash book as well as in the purchase and sales stock and duly recorded in books of account. 6. The Ld. DR submitted that the assessee is not having any history of business and, therefore, the transaction in jewellery especial ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Assessing Officer in respect of purchase and sale of stock register as well as books of account. Since the stock register as well as the family evidences produced by the assessee are found to be genuine, the cash transaction has also been proved by the assessee being genuine transaction. These factual aspects were totally ignored by the Assessing Officer and CIT(A). Therefore, the appeal of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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