2017 (6) TMI 552

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....eri, J. 1. By way of this appeal, the appellant has challenged the judgment and order of the Tribunal whereby the Tribunal has confirmed the order of the CIT(A) which has allowed the appeal of the assessee and dismissed the appeal preferred by the department. 2. This court while admitting the appeal on 17.02.2006 has framed the following substantial questions of law: "(i) Whether in....

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....und of appeal relates to the reply of the appellant assessee company submitted on 14.2.2002 that the books of accounts, documents and other relevant records of the company have been sealed and locked by the official liquidator in the case of M/s Lok Vikas Finance Corporation. This matter has been dealt with by the AO in para-2 of the assessment order and whatever efforts were required on his part,....

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....ails and documents. Therefore, this ground of appeal has no weight and the same is rejected. 7. The next ground of appeal related to an addition of Rs. 1,35,50,063/-, interest claimed on unexplained deposits Rs. 24,26,003/- and interest income due to difference in reconciliation Rs. 3,10,315/- The perusal of the assessment orders shows that the appellant assessee company in its balance sh....

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....has been discussed by the ld. CIT(Appeals) at pages 4&5, in paras 7.1 & 7.2 of his order. The ld. CIT(Appeals) observed in para 7.2 that the fixed deposits in the shape of unsecured loan accepted during the accounting period relevant to the assessment year 1995-96 cannot be added under section 68 of the I.T. Act, 1961. Therefore, the action of the AO in making the addition of the whole of the amou....