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TMI Blog2024 (12) TMI 1346X X X X Extracts X X X X X X X X Extracts X X X X ..... at all. Nature or source of acquisition of the money not explained could only invite opinion of the AO of unexplained money. The appeal does not deserve to be admitted. - HON'BLE MR. JUSTICE ARINDAM SINHA AND HON'BLE MR. JUSTICE M.S. SAHOO For the Appellant Represented by Adv.- Mr. Sumit Lal, Advocate Mrs. Z.M. Wallace, Advocate For the Respondents Represented by Adv.- Mr. S.C. Mohanty, Advocate (Sr. Standing Counsel) Mr. A. Kedia, Advocate (Junior Standing Counsel) ORDER Order No. I.A. no.30 of 2024 and ITA no.28 of 2024 1. Mr. Lal, learned advocate appears on behalf of applicant/appellant-assessee and submits, reported delay of 373 days be condoned and he be allowed to move for admission of the appeal on substantial questions o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be whether a deposit made after said demonetization notification on 8th November, 2016, in terms of it, can be said to be a bad deposit and therefore unexplained money? Furthermore, could the deposit be treated as an investment? He submits, the appeal be admitted on questions to be formulated. 6. Mr. Mohanty opposes admission of the appeal. He submits, there is no error on fact, let alone in law as appearing or questions can be said to arise from impugned order of the Tribunal. It is a clear case where the assesse had only Rs. 252.40 shown as balance in his cash book on 8th November, 2016 but thereafter on 12th November, 2016 deposited by SBN, Rs. 28,00,000/-. It was unexplained money and correctly added by the AO. A mistaken reference by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is. In regular course, collections are made from these debtors and orders are collected. A disrupt in this flow of business would lead to losing such regular customers and ultimately creation of bad debts and doubtful bad debts The above argumentative explanation has given by the assessee after information received from UCO Bank, Sohela Branch, under section 143 (6) was provided to him. 9. In the facts found by the AO, confirmed by the First Appellate Authority and thereafter the Tribunal, there does not arise any substantial question of law for admission of the appeal. The explanation offered by assessee was no explanation at all. Nature or source of acquisition of the money not explained could only invite opinion of the AO of unexplained ..... X X X X Extracts X X X X X X X X Extracts X X X X
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