BAL REDDY KANDUNURI,ADILABAD vs. ACIT, CENTRAL CIRCLE-2(4), HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Shri G. Manjunatha & Shri K. Narasimha Chary

40b(v). In this regard, our reference was drawn to the decision of Co- ordinate Bench in case of Shri Ramnarayan Birla (in ITA No. 482/JP/15 dted 30.09.2016). In that case, the question before the Coordinate Bench was "whether the CIT(A)-2, Udaipur has erred in directing the AO to assess the unexplained investment surrendered by the assessee under