1979 (6) TMI 79

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....ITO during the course of assessment proceedings noticed cash credits of Rs. 6,000, Rs. 5,000, Rs. 8,100 and Rs. 5,000, in the accounts of Smt. Leela, Smt. Ishwaribai, Smt. Rukmanibai and Shri Kishanchand respectively. After hearing the assessee and considering the evidence on record, he was of the opinion that the cash credits were not genuine. Consequently, he added a sum of Rs. 24,100 in the han....

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....is clear that the learned ITO should have asked the assessee to furnish correct address of the depositor after the notices under s. 131 of the Act came back unserved. The learned counsel for the assessee stated before us that in case opportunity is given the assessee will produce the lady. After hearing the parties we are satisfied that the assessee may be given one more opportunity to produce Smt....

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....of Rs. 8100 interest in the name of Smt. Rukmanibai. Smt. Rukamaniabi is the wife of Shri Nathumal and the peek credit in her account was Rs. 8100, whereas the balance in her account at the end of the previous year relevant to the asst. yrs. 1974-75 was at Rs. 3,000. In the affidavit dt. 22nd Oct., 1973. The learned ITO directed the assessee to produce Smt. Rukmani Bai, but she was not produced. ....

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....ady before him. The learned ITO after considering her statement and the other evidence shall decide the point afresh in accordance with law. 7. Other point for determination is regarding the cash credit of Rs. 5,000 in the name of Shri Kishanchand. The statement of this creditor were recorded. He clearly stated that the amount in question was deposited by his grant-father in his name. The loan ....