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2013 (12) TMI 634 - ITAT AHMEDABADAddition u/s 68 – The assessee’s bank account has been credited with Rs. 44,24,500 and later on this amount was transferred to the account of directors - Held that:- Following decision in assessee’s own case for the A.Y. 2007-08 – The assessee was merely an employee - The amount was deposited in his bank account by the directors or family members of the business concern – The amount was transferred to the bank account of the directors of the family concern - The assessee was merely a benamidhar of the bank account in his name - The money deposited belonged to the directors or family members of the business concern – The real owners of the money were directors or the family members of the business concern - The facts and circumstances are identical with the facts of the assessee for the earlier A.Y.2007-2008 - The issue is restored to the file of the AO to verify the entries in the bank account of assessee with the bank accounts of S/Shri Chimanlal Jamnadas Sheth and Ketan Sheth or any other family members of the directors of the business concern.
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