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2012 (11) TMI 388 - ITAT COCHINUndisclosed investments – assessee submitted that amount of Rs.15,45,000/- received from Manju Enterprises not considered as a source for making undisclosed investments – Held that:- During the course of search, several slips relating to the deposit of cheques into the bank account of the concern M/s Manju Enterprises were found. The aggregate amount of the said deposits stood at Rs.15,45,000/-. The AO added the entire amount of Rs.15,45,000/- in the hands of the assessee in the original assessment order - AO has excluded both the unexplained deposits of Rs.15,45,000/- as well as the source of Rs.15,45,000/- from the computation of undisclosed income - except in the first assessment order passed on 29.11.1996, the net effect of computation pertaining to Rs.15,45,000/- was that the amount of Rs.15,45,000/- was never considered as the undisclosed income of the assessee - AO has properly dealt with the issue and rightly rejected the said claim of the assessee. Accordingly we dismiss all the grounds raised in this regard.
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