TaxTMI 
TaxTMI 
2013 (11) TMI 526
X X X X Extracts X X X X
X X X X Extracts X X X X
.... under Section 143(2) of the Income Tax Act was issued on 18.10.2006. After hearing the asessee, it was found that in computing the total income the assessee has not considered the personal elements involved in expenditure under the head of vehicle maintenance, hire purchase interest on car and depreciation on car. Further it was found that on verification of the account, the total sundry creditors of Rs.74,34,966/- and Rs.64,57,129/- is styled as payable (Account - K.V.Mathew). Further it was seen that an amount exceeding Rs.10 lakhs was deposited in the Savings Bank Account. The assessing officer found that there are numerous transactions of credits and debits in the account. Though the assessee took up a contention that the amount deposi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....the proper course would be to call upon that person to explain regarding the unexplained money. It was further contended that the assessee had produced necessary declaration and the person from whom he received the amount also sworn an affidavit regarding the source of income which was not appreciated by the authorities below. The appellant raised the following substantial question of law in the memorandum of appeal: "i)In the facts and circumstances of the case, ought not the Tribunal have held that there is no scope for addition under Sec.69A of the Act on the credits which are received from Sister of the appellant who is NRI?" 4. First of all, we think that such a question of law does not arise for consideration. The assessing officer ....