SHRI BHIM PAL DAGAR,FARIDABAD vs. ITO, FARIDABAD

This appeal is filed by the assessee is against the order of the Ld. Commissioner of Income Tax [Appeals], Faridabad dated 20.01.2016 pertaining to assessment year 2012-13 on the following grounds:- 1. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of AO in disallowing 1/5th of all expenses debited in the audited profit and loss account for the year ending 31.3.2012 by confirming the suo moto addition of amounting to Rs. 293670/- without considering the fact that the accounts are duly audited by CA and AO does not have any justification and material on records to make such addition to the income.

2. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of AO making addition of Rs. 1300600/- in the capital account of the appellant as the unexplained income under section 68 of the Act by rejecting the affidavit filed by appellant on the ground that the same was not duly notorised and the amount of gift received from relatives is not in round figure.