TaxTMI 
TaxTMI 
2014 (12) TMI 837
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....he Respondent : Sri Prof. S. Sampath, A.R. ORDER PER : D.K. TYAGI, JUDICIAL MEMBER:- This is the assessee's appeal against the order of Ld. CIT(A)-II Ahmedabad dated 13-12-2010. 2. At the time of hearing only following two grounds were pressed:- "1. That on facts and circumstances of the case the learned CIT(A) has e....
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....relates to addition of Rs. 10,43,994/- made by AO on account of unexplained investment made in bank account of the assessee which was confirmed by Ld. CIT(A). 4. Brief facts of the case are that AO observed during the assessment proceedings that during the course of search at the residential and business premises of Shri Nagindas T. Kapadia, evidence of existence and possession of bank accounts....
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....made the addition of Rs. 10,43,994/- on account of unexplained investment in the bank account u/s. 69 of the IT Act. This action of the AO was confirmed by Ld. CIT(A) when assessee went in appeal before him. 5. Further aggrieved now the assessee is in appeal before us. 6. At the time of hearing learned counsel of the assessee at the outset submitted that deposits amounting to Rs. 10,43,994/-....
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....however will be at liberty to take cognizance of these deposits for assessment year 2005-06 as per law. This ground of the assessee is allowed. 8. Ground no. 2 relates to addition of Rs. 50,000/- on account of unexplained expenditure. 9. During the course of search proceedings in the premises of Shri Kapadia loose paper Annexure A-1/14 containing 22 papers was seized. These papers showed the....