TMI Blog2015 (4) TMI 879X X X X Extracts X X X X X X X X Extracts X X X X ..... unexplained. In any event, even if this Court were to entertain the said matter, so far as the small denomination demand drafts of ₹ 19,500/- are concerned, the total amount on that account itself would be only ₹ 10,63,000/- - a sum clearly below the tax-effect threshold which entitles the Revenue to approach this Court under Section 260A. No question of law is made out. - Decided aga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... depreciation and declared book profit of ₹ 94,644/- under Section 115JB of the Act. This was processed under Section 143(1). The AO sought to reopen the assessment on 23.10.2009. The assessee reiterated the return filed earlier in response to notice under Section 148. The AO completed the assessment and directed addition of ₹ 55,27,737/-. This was largely on account of money from unex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the AO. It was also urged that even the CIT(A) had remitted the matter for re-examination by the AO so far as the sum of ₹ 10,63,000/- which comprised of small denomination drafts of ₹ 19,500/- was concerned. The findings of the CIT(A) with regard to the sum of ₹ 55,02,380/- were noticed by the ITAT. The records would reveal that the assessee had received that sum - firstly a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not make any adverse note or argument in that regard. Further, ₹ 7,50,000/- from M/s. Swarnim Credit and Holding Ltd. by way of single cheque was duly supported by confirmation and ledger extract of that party. The CIT(A) took the view that these could not be treated as unexplained income or cash. The CIT(A) then went into the balance amount of ₹ 25,02,380/- on account of sales and exa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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