1982 (3) TMI 188

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...., who is an employee of Heavy Engineering Corporation, Ranchi. He was deriving income from salary and interest. It was found that the assessee encashed 23 high denomination notes of Rupees thousands each from the Reserve Bank of India, Calcutta on 24th January 1978. The assessee's statement was recorded on 15th February 1978. It was stated that the high denomination notes were acquired by the asse....

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....the AAC that the addition should be deleted. The AAC was satisfied with the argument of the assessee and he, therefore, deleted the addition. The AAC while deleting the addition observed as follows: "I have examined the contention of the assessee's A.R. Merely because the amount was kept in cash, the ITO was not justified in holding that this was the income of the assessee from undisclosed sour....

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....r for which her husband obviously had saved nothing. It was but natural that she will save something for the marriage of her daughter. Now, we come to the question whether out of the total earnings of the assessee a sum of Rs. 23,000 can be saved or not. It is a general presumption in the eyes of law that a man can save 1/3rd of his earnings. In the instant case, the assessee had earned total sala....

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....The addition made by the ITO under this head is, therefore, deleted in full." The department is in appeal. 4. Shri Durga Charan, who represented the case of the department, very strongly supported the order of the ITO and urged that the AAC did not have any material to delete the addition of Rs. 23,000 and hence the order of the ITO should be maintained. The counsel of the assessee, Shri Poddar....