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Ved Parkash Versus Commissioner of Income Tax (Appeals) , Chandigarh and others

2015 (7) TMI 485 - PUNJAB & HARYANA HIGH COURT

Unaccounted cash - CIT(A) directing the AO to make addition of only peak of the deposits in the bank account after getting the details from the appellant - Held that:- AO had also found that the appellant had deposited a sum of ₹ 12,30,500/- in .....

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ade from the sale proceeds received by him. The appellant also contended that this plot was purchased earlier by selling his old house for ₹ 12 lacs. As no details were filed regarding the purchase of the earlier house, the AO did not accept th .....

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the AO to allow ₹ 12,85,500/- on account of cost of acquisition of the earlier property and granted the appellant relief to that extent. The cost of acquisition of the new property was, therefore, reduced from half of the sale price taxed by t .....

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ellant : Mr. Tribhawan Singla S.J. VAZIFDAR, A.C.J. (ORAL) This is an appeal against the order of the Income Tax Appellate Tribunal dismissing the appeal against the order of the CIT (Appeals). 2. The matter pertains to the assessment year 2009-2010. .....

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the cash cannot be related to the appellant s business transactions. This finding was also on account of the fact that the appellant had not produced any sale/purchase details. The AO, therefore, made an addition of ₹ 11,04,167/-. The CIT (App .....

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these circumstances, the appellant s case that he had been maintaining accounts was not acceptable. The CIT (Appeals), however, accepted the contention that the AO ought not to have treated the cash deposit as income without considering the cash wit .....

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s of fact which require the appreciation of evidence. No question of law much less a substantial question of law arises in this regard. 3. The AO had also found that the appellant had deposited a sum of ₹ 12,30,500/- in another bank account. Th .....

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