ORDER

This appeal has been preferred by the assessee against the order dated 21.08.2023, passed by the ld. Commissioner of Income Tax (Appeal), National Faceless Appeal Centre (NFAC), Delhi for Assessment Year 2017-18.

2. The brief facts of the case are that the assessee filed his return of income for the year under consideration on 23.08.2017, declaring a total income of Rs.4,45,110/-. The case of the assessee was selected for scrutiny under CASS to examine the cash deposits made by the assessee during the demonetization period. The Income Tax Department was in possession of information that the assessee had deposited substantial cash in his Bank accounts during the demonetization period (09.11.2016 to 30.12.2016). The Assessing Officer (AO) issued statutory notices, requiring the assessee to explain the source of cash deposits in his bank accounts during the demonetization period. After considering the explanations furnished by the assessee, the AO treated Rs.2,23,500/- as unexplained money of the assessee out of the total de