2024 (5) TMI 592

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..... ed the assessee s alleged customer advance(s) in tuition activity(ies) of Rs. 63,52,600/- after deducting 35% thereof as the corresponding expenditure; resulting in the impugned addition of Rs. 41,29,190/- as well as interest of Rs. 1,76,082/- received from fixed deposits with M/s. Baramati Sahakari Bank Ltd.; respectively. That being the case, there is no addition made regarding the foregoing sol .....

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..... he Assessing Officer s herein had initiated sec. 148/147 proceedings against the assessee after recording reasons to believe that he had deposited cash of Rs. 25,01,100/- in Vishweshwar Sahakari Bank Ltd., Pune in the relevant previous year Learned DR fails to dispute the clinching fact that the impugned re-assessment dated 26.12.2019 had assessed the assessee s alleged customer advance(s) in tuit .....

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