2015 (10) TMI 1472

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....and further without considering the Remand Report of the assessing officer at all in the appellate order. 2. That the learned C.I.T.(A) erred in upholding the action for the Assessing Officer in making addition of Rs. 3,91,000/- and Rs. 1,00,000/- on account of Cash deposited in Allahabad Bank, Rajouri Garden Branch New Delhi and ICICI Bank respectively out of business receipts of hiring of vehicle as unexplained income arbitrarily merely on suspicion and without any basis. 3. That the learned C.I.T.(A) erred in upholding the Order of the Assessing Officer in disallowing depreciation of vehicle used for the purpose of hiring. 4. That the learned C.I.T.(A) erred in upholding the order of Assessing Officer in treating the Long Term Capi....

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.... of Rs. 30109/-. However, the AO treated the entire gain on the sale of shares as Short Term Capital gain by observing that the assessee could not submit the evidence in support of her claim. 6. Being aggrieved the assessee carried the matter to the ld. C.I.T.(A) and submitted that cash deposit of Rs. 3,91,000/- was made in saving bank account of Allahabad bank jointly by the assessee and her husband Shri Satish Malchand from the source of cash in hand and from the cash withdrawals from another saving bank accounts maintained with ICICI bank. It was further stated that the said deposit was made to maintain the balance for the purpose of clearing of instalment of repayment of two car loans i.e. one in the name of the assessee and the other ....