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2014 (12) TMI 1392 - AT - Income TaxUnexplained investment in jewellery - unexplained cash - interest on deposits in FCNR accounts - addition on account of household expense - a profit of 25% was estimated besides an addition of unexplained cash credit was also made based on certain entries/notings found to be recorded in loose papers - HELD THAT:- As requested to restore the matter to CIT(A) to be decided the matter in light of decision in case of Chandrakant J Patel vs. V N Srivastava [2011 (3) TMI 1322 - GUJARAT HIGH COURT] Nothing contrary has been brought to our knowledge on behalf of Revenue. Facts being similar, so following same reasoning we restore the matter to CIT(A) with direction to decide the matter in light of observation in Chandrakant J Patel - Appeal filed by assessee is allowed for statistical purpose.
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