2014 (5) TMI 312

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.... This appeal by the assessee is directed against the order of learned CIT(A)-XXVIII, New Delhi dated 30th April, 2012 for the AY 2008- 09. 2. The assessee has raised the following grounds of appeal:- "1. That the learned Commissioner of Income Tax (Appeals) XXVIII, New Delhi has erred in confirming an addition a sum of Rs.12,23,561.00 on account of cash deposited in the savings bank account ....

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....Rs.850174.00 claimed by the appellant in the profit and loss account without appreciating the fact that the expenditure has been incurred for the purpose of the business of the appellant. 4. That it is accordingly prayed that the additions confirmed by the learned Commissioner of Income Tax (Appeals) may kindly be deleted. 5. That the appellant craves leave to add or amend any ground of appe....

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....ned that the above amount was the loan taken by the assessee from the bank. He stated that the Assessing Officer further made the addition of Rs.1,70,035/- by disallowing 20% of the expenses claimed. He stated that all the additions/disallowances are uncalled for and unjustified. The same should be deleted or, alternatively, the matter may be set aside to the Assessing Officer for re-examination. ....