2014 (2) TMI 611

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....ssessee individual derives income from salary, house property and income from other sources, besides agricultural income. In the return of income filed, the assessee declared income of Rs. 1,18,127/- and agricultural income of Rs. 60,000/-. The return was processed u/s 143 (1) of the Act. Later, notice u/s 148 of the Act was issued, and the assessee was asked to justify the following cash credits in its bank account:- 01.06.2006 : Rs.15,000/- (Cash) 03.06.2006 : Rs. 5,000/- (Cash) 04.09.2006 : Rs.10,000/- (Cash) 05.12.2006 : Rs.20,000/- (Cash) 18.01.2007 : Rs.30,000/- (Cash)   Rs.80,000/- 3. The assessee submitted that the amounts in question had been received out of sale of old car to one Shri Bhasin. The Assessing Office....

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....SSMENT YEAR : 2007-08 APPEAL NO.4207/DEL-2011 U/S 143 (3)/147 WRITTEN SUBMISSION PAN-ABIPC2348G ...................... Respected Sir, It is respectfully submitted as under:- That the assessee has filed the return at Rs.118127/- and agriculture income at Rs.60000 on 31/03/2008. The return was processed u/s 143 (1) on 30/06/2008. Later on notice u/s 148 of IT Act was under issued to the assessee on 09/06/2009. The two reason u/s 148 was raised i.e. one reason was investment to the property and the second reason was sale of property through power of attorney. The assessee has given proper reply and the learned Assessing Officer was satisfied. The copy of reason is also being enclosed. Now the learned officer made the addition of Rs.80,....