In the result, appeal of the assessee is treated as allowed for statistical purposes
Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary
68,920/-. Assessee further submitted that the cash deposits made into the bank account are out of cash in hand brought forward from preceding previous years and withdrawals made during the current year. According to the assessee, he planned to make investment in India and issued cheques to relatives and friends. Learned Assessing Officer, however, proceeded to issue notice under