2012 (9) TMI 250

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....rders of Assessing Officer and Ld. CIT (A). The appeal of the assessee is being disposed off after considering the orders of authorities below and the written submissions placed on record. 5. During the assessment proceedings, the Assessing Officer noticed that assessee has shown loan of Rs. 1,14,000/- from six persons. The assessee was required to file confirmations and other details about the cash credits. The assessee filed confirmation letters, affidavits, election cards proving the identity of the persons and source of deposits were also explained. However, the Assessing Officer was not satisfied. In his view, all the six persons from whom a sum of Rs. 19,000/- each has been taken in cash have no means, therefore, he confirmed the a....

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....In the present case the assessee has filed affidavits and their voter election cards for proving their identity. The complete addresses were given. They have confirmed in having given loans from their own sources. Therefore, in my view, the addition made and sustained by lower authorities was not justified. Accordingly, I delete the same. 7. Next ground is against confirming addition of Rs. 60,000/- regarding salary paid to Shri Hani Jain. 8. The Assessing Officer noted that assessee has claimed deduction on account of salary paid amounting to Rs. 60,000/- to one Shri Hani Jain, who happened to be the nephew of the assessee. The assessee was required to justify under section 40A(2)(b). The Assessing Officer has observed that assess....