1980 (7) TMI 142

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.... estimated capital. 2. The facts are that the assessee is an HUF earning income from kirana, money-lending and agriculture. According to the ITO no books of account were maintained and the income was shown on estimated basis for money lending business. He further observed that one 'Cahna Register' was maintained which does not show the opening and closing balances of cash. However, from the det....

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....hat the addition made by the authorities below is liable to be knocked off. We have seen that in the earlier two assessments years the account books maintained by the assessee in respect of the money-lending business were accepted and no addition was made by the authorities. Likewise, in the asst. yr. 1977-78 though the same Cahna Bahi was maintained by the assessee but there also the money-lendin....