ORDER

DR. SHAH KHAN, ACCOUNTANT MEMBER:--- The titled appeal has been filed at the instance of the appellant taxpayer against the impugned order dated 14.09.2023 passed by Learned Commissioner Inland Revenue (Appeals), Peshawar, whereby appeal of the appellant taxpayer was rejected.2. Briefly stated facts of the case are that the appellant taxpayer is an individual, deriving income from running a business under the name and style of ‘Tobacco Dealer', who filed return of income tax for tax year 2017 by declaring net income from business at Rs.539,500/-. The return so filed constituted deemed assessment order in terms of section 120 of the Income Tax Ordinance, 2001 ("the Ordinance"). However, on examination of the said declaration it was observed that the appellant taxpayer had unjustified accretion in wealth by declaring liability at Rs. 17,500,000/-. Statutory notices were issued to the appellant for compliance of furnishing of receipt of the liability through banking channel. In response...