1977 (10) TMI 79

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....he course of assessment proceedings for the asst. yr. 1973-74, relevant to the according period ending on 31st March, 1973, the ITO found that the assessee had deposited a sum of Rs. 20,000 on 30th March, 1973 in the Central Bank of India. On being asked to explain the source of this deposit, the assessee contended that he had deposited the amount in question out of the balance of Rs. 22,000 in hi....

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.... hearing the Representatives of the parties, I am inclined to accept this appeal. It is clear from the facts stated above that the Department accepted the savings of the assessee to the extent of Rs. 9,200, Rs. 15,200 and Rs. 22,000 upto the asst. yrs. 1970-71, 1971-72 and 1972-73. If the Department had entertained any doubt about the accumulated savings of the assessee in the asst. yrs. 1970-71, ....