RAJENDER REDDY GUNNA ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6, HYDERABAD

In the result, appeal, ITA

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

deposits and other credits and also periodical withdrawals from the said bank accounts. Since, there is a nexus between the credits in bank account of the employees and entries recorded in 'Lokpriya' book, in our considered view, the arguments of the assessee that, credits in bank account of employees is out of receipts recorded in the 'Lokpriya' book is acceptable

MANOJ KUMAR CHOWRAH,HYDERABAD vs. INCOME TAX OFFICER, WARD-4(1), HYDERABAD