The Commissioner of Income Tax vs. Shri Byru Venkateswarlu

Appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

investment in the alleged unproved purchases represented assessee’s own income from undisclosed sources. Such purchases amount of Rs.1,06,717/- represents assessee’s income from undisclosed sources.” 4. Counsel for the appellant has further contended that the CIT(A) while considered the case of the assessee has observed as under: “As regards the unproven purchases and sales with

The Commissioner of Income Tax -III vs. Sri T.C. Reddy

The appeal stands dismissed

purchase of shares. Only Nil income has been shown and a loss of Rs.12,218.73 is reflected in the P& L a/c. Audit report & ITR-V of M/s. Mrigiya Electronics Industries P Ltd. is annexed with this order as Annexure-A.” 4.1. Taking into consideration the above factual position the AO held as under:- 16. The assessee has claimed expenditure