TMI Blog2017 (4) TMI 1263X X X X Extracts X X X X X X X X Extracts X X X X ..... n of the Tribunal applies to the instant appeals of the assessees and there is no case for confirming the said addition in both the cases. The additions made u/s 69C of the Act stand deleted. Therefore, I direct the Assessing Officer to accept the claims of the assessee - Decided in favour of assessee. - ITA No.6102/M/2016, ITA No.6103/M/2016 - - - Dated:- 26-4-2017 - SHRI D. KARUNAKARA RAO, AC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd, it is a fit case to condone the delay without going into the merits of reasonable and sufficient cause. I order accordingly and proceed to adjudicate the appeal on merits in the following paras of this order. 3. The common issue raised in these appeals relates to treatment of long term capital gains as cash credit u/s 69C of the Act‟. Assessees also questioned the validity of the re- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g to the facts of the case of Sri Indravadan Jain, ld Counsel for the assessee submitted that the similar additions were made in that case and the Tribunal deleted the addition vide its order in ITA No.5168/M/2014 and others dated 27.5.2016. Before the Tribunal, Ld AR prayed for considering both the instant appeals as covered ones by the said order of the Tribunal (supra) dated 27.08.2016. Further ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ims of the assessee and also the said decision of the Tribunal (supra) in the case of Sri Indravadan Jain HUF (supra). The facts of the present two appeals are identical to that of the ones of Sri Indravadan Jain HUF (supra). Thus, all the grounds raised by the assessees in their respective appeals are allowed considering their covered nature. I order accordingly. 6. In the result, both the app ..... X X X X Extracts X X X X X X X X Extracts X X X X
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