2011 (12) TMI 73

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....d in this appeal:- (1) The ld. CIT (A)-IV, Baroda erred in law and on facts in confirming addition of Rs.13,77,000/- u/s 68 of the IT Act. (2) The ld2. The first ground relates to addition of Rs.13,77,000/- made u/s 68 by the AO. During the assessment proceedings the assessee was asked by the AO to prove the identity of the lender, genuineness of the transaction and creditworthiness of the l....