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TMI Blog2022 (2) TMI 574X X X X Extracts X X X X X X X X Extracts X X X X ..... R. ORDER Per Mahavir Prasad, JM The captioned appeal has been filed at the instance of the Revenue against the order of the Commissioner of Income Tax (Appeals)-1, Rajkot ('CIT(A)' in short) vide Appeal No. CIT(A)-I/Rjt/0101/14-15, dated 28.03.2016 arising in the assessment order dated 24.03.2014 passed by the Assessing Officer (AO) under s. 143(3) r.w.s. 147 of the Income Tax Act, 1961 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 133(6) on perusal of which it was noticed that the assessee has deposited huge amount of cash in aggregate of Rs. 5,88,43,806/- on various dates in his above bank account. During the course of assessment proceedings the assessee in his statement recorded on oath as well as in response to the show cause notice submitted that the cash deposits in aggregate of Rs. 5,88,43,806/- made in his A/c. No. 0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s income from undisclosed sources and added back to the total income. 4. Thereafter, the assessee preferred first statutory appeal before the learned CIT(A) who partly allowed the appeal of the assessee. 5. Now, the Revenue is before us. 6. We have gone through the relevant records and impugned order. The question before us is whether cash depositing in aggregate amount of Rs. 5,88,43,806/- mad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee is working as shroff which means commission agent. After going through the bank statement, it was revealed that cash deposited and withdrawals were made regularly during the year under consideration. We do not find any ambiguity in the order passed by the learned CIT(A) and he has rightly directed the learned AO to compute the commission income @ 0.25 paise per lakh deposited in the bank accoun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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