TMI Blog2014 (11) TMI 1244X X X X Extracts X X X X X X X X Extracts X X X X ..... or any perversity. Addition under the head unexplained cash credit - ITAT deleted the addition - HELD THAT:- The correct position of law has been followed by the learned Tribunal. The genuineness of the deposits cannot be gone into in the block assessment proceedings and it could have been gone into in the regular assessment proceedings because in the block assessment, only the books of accou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Per the Hon ble the Chief Justice Sri Kalyan Jyoti Sengupta This appeal is sought to be preferred and admitted against the judgment and order of the learned Tribunal dated 14.10.2011 in relation to assessment years 1996-97 and 2001-02 on the following suggested questions of law:. 1. Whether on the facts and in the circumstances of the case and in law, the order of the Tribunal is not per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion No.2 is concerned, the learned Tribunal after examining the books of accounts and other related claims in relation to the assessment, found on fact as follows: Further, after elaborately discussing the issue in paras 23 to 28 of the impugned order, the CIT(A) concluded that without expressing any opinion as to whether the deposits are genuine or not, the genuineness of the deposits cannot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al held that all the credits or deposits consisting of a sum of ₹ 55,07,434/- were reflected in the regular returns of income filed by the assessee prior to the date of search. Therefore, this income could not be questioned in the block assessment and it could be done only in the regular assessment. The correct position of law has been applied. We, therefore, do not find any element of law f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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