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TMI Blog2013 (12) TMI 640X X X X Extracts X X X X X X X X Extracts X X X X ..... earned Commissioner of Income-tax (A), Central-II, Kolkata in appeal nos. 133/CC-XII/CIT(A)C-II/10-11, 134/CC- XII/CIT(A)C-II/10-11/Kol, 135/CC-XII/CIT(A)C-II/10-11/Kol, 136/CC-XII/CIT(A)C-II/10-11/Kol, 137/CC-XII/CIT(A)C-II/10-11/Kol, 138/CC-XII/CIT(A)C-II/10-11, 139/CC-XII/CIT(A)C-II/10- 11/Kol dated 28-01-2011 for the assessment years 2003-04 to 2009-10 respectively. 2. Shri Sumil Surana, ACA. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that for all the assessment years under appeal the only claim of the assessee was that when computing the undisclosed income in respect of the said bank account the assessee should be granted the benefit of deduction of the opening balance in respect of the bank account for each of the relevant assessment years and the assessee should be granted the benefit of deduction u/s. 80L of the Act in res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orically given a finding that amounts have been paid from the said account towards school fees as also towards other persons and consequently, the same could not be considered for computing of peak credits. 5. We have considered the rival submissions. A perusal of the assessment order shows that the AO has brought to tax the total credits as appearing in the bank account year after year. No benef ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee the benefit of telescoping in respect of the income added in each of the assessment years in computing the total income as the same would be available to the assessee in making the deposits for the subsequent assessment years. In respect of peak credit, no computation of the same has been placed before us, therefore, we refrain from going into the said issue. 6. In the result, the appeals ..... X X X X Extracts X X X X X X X X Extracts X X X X
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