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2014 (1) TMI 835 - ITAT KOLKATADeletion of undisclosed investment in fixed deposits – Held that:- All the transactions are duly transacted through the disclosed bank accounts of the appellant firm, merely for the reason that there was a mistake in making entries, a disclosed investment cannot be treated as undisclosed - The CIT(A) has gone into the details of bank account maintained with Indian Overseas Bank and also noticed that the amount of Rs.20 lakhs was withdrawn by cheque and given to bank for making FDR - This is an explained FDR and in no way it can be stated that this is unexplained - The main ground of Revenue is that ledger account was not filed before the AO or no opportunity was allowed to the AO by the CIT(A) – there was no infirmity in the order of the CIT(A) – Decided against Revenue.
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