DELHI, DELHI vs. SMA GOYAL JEWELLERS PVT LTD, DELHI

In the result, appeal filed by the assessee is allowed

Bench: Shri Anubhav Sharma & Shri Manish Agarwalacit, Sma Goyal Jewellers Pvt. Ltd., Central Circle-29, I-45, Arya Samaj Road, New Delhi. Vs. Uttam Nagar, West Delhi-110059. Pan:Aajcs4890G (Appellant) (Respondent) Assessee By Shri Sanjeev Batra, Adv. & Shri Kailash Khemani, Ca Department By Shri Narpat Singh, Sr. Dr Date Of Hearing 24.06.2025 Date Of Pronouncement 12.09.2025 O R D E R Per Manish Agarwal, Am: This Appeal Is Filed By The Revenue Against The Order Of Learned Commissioner Of Income Tax (Appeals)-30 In Appeal No. 08/10437/2019-20 Dated 25.09.2024 For Assessment Year 2017-18 Arising Out Of Assessment Order Passed U/S 143(3) Of The Income Tax Act, 1961 For Assessment Year 2017-18. 2. Brief Facts Of The Case Are That Assessee Is A Company & E-Filed Its Return Of Income On 23.10.2017 Declaring Total Income At Rs.4,35,580/-. The Case Of The Assessee Was Selected For Complete Scrutiny. Assessee Has Made Cash Deposit Of Rs.98,00,000/- In Specified Bank Notes (Sbn) In Kotak Mahindra Bank Account. During The Course Of The Assessment Proceedings, Details Have Been Asked For Time To Time & The Assessing Officer Has Issued Summons To The Parties To Whom Sales Stated To Have Been Made In Cash. Since, Most Of The Parties Has Not Responded To The Notices Issued By The Assessing Officer, He Was Of The Opinion That Cash Deposited During

unexplained money under section 69A of the Act and taxed it under section 115BBE. CIT(A) order:- The assessee preferred an appeal challenging the reassessment