Ashok Nariyani, Jaipur vs. ACIT, Circle-5, Jaipur
In the result, the appeal of the assessee is allowed
ITA 1532/JPR/2024[2017-18]Status: DisposedITAT Jaipur15 Sept 2025AY 2017-18
For Appellant: Sh.Deepak Sharma, Adv. &For Respondent: Mrs. Anita Rinesh, JCIT, Sr.-DR
Section 115BSection 131Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 68
…, the discrepancy appeared qua four (4) credits, which were answered suitably to the satisfaction of the CIT(A); therefore, it is not understood how the A.O. could make an ad hoc addition of ` 46,40,978/-." CIT Vs Mansarovar Urban Co-Operative Bank Ltd (2009) 124 TTJ 269 (Lucknow Trib) 16. There is another aspect of the matter. In our considered view s.68 is amount specific. In other words, the AO has to identify each credit and give a finding about its nature and source. If it is not found explained sat- isfactorily, the addition to the extent of that credit can be made. In other words s.68 talks of nature and s…
