346 results for “section 68”+ Section 11(3)clear
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In the result, appeal of the assessee is allowed
Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपीलसं./I.T.A.No.269/Viz/2019 (ननधधारण वर्ा/Assessment Year:2014-2015) Vangapandu Prem Kumar Vs. Income Tax Officer D.No.42-3-1 Ward-I, Kakinada Sri Venkateswara Garments Tilak Street, Main Road Kakinada [Pan : Abxpv9304L] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Smt U.Mini Chandran, Sr.Ar 23.09.2020 सुनवधई की तधरीख / Date Of Hearing : घोर्णध की तधरीख/Date Of Pronouncement : 23.11.2020
3 of this order. The Ld.AR further stated that the assessee had the capital balance of Rs.26 lakhs, out of which Rs.11 lakhs were used for depositing in bank account. Thus, the Ld.AR submitted that source of entire cash deposits were explained by the assessee, hence, there is no case for making the addition, accordingly, requested to delete the addition