2025 (5) TMI 1306

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... : T.R. SENTHIL KUMAR, JUDICIAL MEMBER:- This appeal is filed by the Assessee as against the appellate order dated 12.06.2024 passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, (in short referred to as "CIT(A)"), arising out of the assessment order passed under section 144 of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') relating to the A .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n of Income on 04-12-2019 declaring total income of Rs. 1,80,930/- and agricultural income of Rs. 30,284/-. 3.1 The assessee explained that the cash deposit in bank accounts is nothing but sale of milks to Cooperative Society and also produced bank statements, cash book and comparison cash deposit made in earlier years. However the Assessing Officer found it to be not explained satisfactorily, th .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... aining the cash book and bank statements and other details. Perusal of the same makes it very clear that the deposits were made on account of sale of milks and agricultural income. There is no substantial increase in the cash deposits during demonetization period comparing with the earlier years. Thus the Ld. CIT(A) is not correct in holding 50% cash deposit as unexplained. Therefore the entire ad .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X