ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, GUWAHATI vs. FORTUNE VANIJYA PRIVATE LIMITED, GUWAHATI

In the result both the appeal of the Revenue and the cross objections of the assessee stands partly allowed

Bench: Shri P.M. Jagtap, Hon’Ble V.P (Kz) & Shri A. T. Varkey, Jm]

Section 153A of the Act. He submitted that, the AO had only disputed the genuineness of the proceeds received in the disclosed bank account and added it by way of unexplained cash credit u/s 68

D.C.I.T., CIRCLE-1, DIBRUGARH vs. VINAY BAMALWA, DIBRUGARH