AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
This assessee’s appeal for Assessment Year 2017-18, arises against the CIT(A)/NFAC, Delhi’s DIN & Order No. ITBA/NFAC/S/250/-26/1086892517(1) dated 05.03.2026, in proceedings u/s 143(3) of the Income Tax Act, 1961 (in short “the Act”).
Heard both the parties. Case file perused.
It emerges during the course of hearing that the assessee presses for its sole substantive ground on merits challenging both the learned lower authorities’ action treating the cash deposit of Rs.27,97,500/-, received from its Members as unexplained cash credit u/s. 68 of the Act, in the assessment order dated 16.12.2019 and upheld in the lower appellate discussion.
The assessee has filed its detailed paper book running into 202 pages thereby explaining the source of the impugned cash deposits from its Members only. It is therefore deemed appropriate in the larger interest of justice to restore the assessee’s instant appeal back to the Assessing Officer for necessary reconsideration and factual verification, within three effective opportunities of hearing at the appellant’s risk and responsibility only. Ordered accordingly.
In the result, this assessee’s appeal is allowed for statistical purposes. .
Order Pronounced in the Open Court on 08/07/2026.