In the result, both cross appeals are allowed for statistical purposes
Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyassessment Year: 2010-11 Ito,Ward-2 Vs. Sadhanakari Khaja Vasanthapet Rahmathulla Proddatur-516 360 Chintapalli(Village) Kalasapadu(Mandal) Kadapa(District) Andhra Pradesh
sections 26988 and 269T of the IT Act. Thus, the assessing officer was clearly in his mind that all six persons violated the Provisions of the Act by accepting cash deposits through the assessee and processing the same through his account. In such circumstances it is not justifiable to treat all those deposits as that of the assessee u/s.68