2010 (7) TMI 1029

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..... This is assessee's appeal against the order of the CIT(A)-I, Surat dated 12.02.2007 for A.Y.2004-2005 arising out of the order of the Assessing Officer passed under Section 143(3) of the Income Tax Act, 1961. This appeal of the assessee is against the addition of ₹ 17,74,813/- made by the AO on account unexplained cash credit under Section 68 of the Income Tax Act. 2. At the time of hearing .....

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..... ni and credited to the account of "BJW". Thus, during the year under consideration no amount was received from "BJW". In fact the payment as well as receipt of the amount was only during the financial year 2001-2002. The AO himself has mentioned in the assessment order all these facts and he has also stated that the credit in the account of "BJW" is through journal entry. He therefore stated that .....

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..... ar under consideration, no amount was received from "BJW". In fact the transaction between the assessee and "BJW" was during the financial year 20001-2002. Even in that year first the amount was advanced by the assessee and then there was repayment of such advances by "BJW". If by mistake part of the repayment was credited to the account of some other party and a journal entry was made during the .....

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