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2015 (9) TMI 185 - ITAT KOLKATAUndisclosed Receipts - assessee submitted that the income arising out of the entire receipts could not be taxed and prayed that the matter be restored to the file of AO for verifying the bank accounts and determine the net profit in the hands of assessee - Held that:- We find that the Bank accounts, in which the impugned amounts were deposited, have not been examined by the lower authorities. We are in agreement with the plea of the ld. counsel for the assessee that the entire receipt s cannot be assessed in the hands of assessee. D. R. has relied on page 7 of the assessment order and the contents had been produced earlier in which it was stated that the assessee had not made any claim that it had incurred any additional expenditure over and above what has been claimed in the accounts. However, in the affidavit of Manish K. Chetwani it was the submission that he had incurred expenses from his bank accounts. Under such circumstances, it is necessary that before arriving at any conclusion, these three bank accounts in which the amount s have been deposited, are examined by the Assessing Officer to arrive at proper conclusion. We, accordingly, set aside the order of ld. CIT(Appeals) and restore the matter back to the file of Assessing Officer for verification of Bank accounts to determine the income arising from the receipts credited in the impugned Bank ac counts. - Decided in favour of assessee for statistical purposes.
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