ORDER

Per: Udayan Das Gupta, JM This appeal is filed by the assessee against the order of CIT ( A ) NFAC , dated 02/02/2024, passed u/s 250, of the Act 61, which has arisen out of the assessment order passed u/s 144 of the Act 61, dated 26/12/2019, by the AO, Ward

3(2) Ferozpur.

2. The appellant has taken fourteen grounds of appeal as per annexure attached to the memorandum of appeal in Form 36, which are more of the nature of arguments than grounds of appeal and the entire appeal revolves around one single addition of Rs. 2,95,58,290/- made by the AO on account of cash deposited in Punjab National Bank, allegedly, by the assessee, during the FY 2011-12, relevant to the assessment year under appeal.

3. The brief facts of the case are that, the AO initiated proceedings u/s 147 of the Act 61, on the basis of PAN / AIR information that an amount of Rs.2.95 crores has been deposited in PNB, in some savings bank account, by the assessee, (PAN: AFTPK8917L) and in absence of any regular return on record, proceedings were initiated u/s 147 of the Act 61, after obtaining necessary approval from PCIT, Bhatinda. However, the assessee has not filed any return in response to notice u/s 148, which