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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 ..... during demonetization period. Furthermore, even no details 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. Addition u/s 40A(3) - payments in cash towards purchases - HELD THAT:- Before the NFAC, no documentary evidences ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ury, Judicial Member For the Assessee : Shri Saidappa Gadadi, AR For the Revenue : Shri N. Shrikanth, DR ORDER PER PARTHA 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 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cash book, ledger, bank book, purchase & sales bills, bills & vouchers etc. The assessee explained that the said deposits 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 th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e his claim for justifying depositing the cash in his banks accounts during demonetization period. Furthermore, even no details 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 addit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e us also, ld.AR claimed that the payments were covered under the exception of Rule 6DD of the Income Tax Rules, 1962, however, 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 find ..... X X X X Extracts X X X X X X X X Extracts X X X X
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