2011 (2) TMI 1523

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.... H. S. Sidhu (Judicial Member) The Revenue has filed the present appeal against the order of the CIT(A) dated 20.12.2005 on the following grounds:- "(1) The Ld. CIT(A) has erred, in law and facts, in deleting the addition of Rs. 3,80,696/- made by the Assessing Officer on account of cash credit u/s 68 holding that the unexplained investment is prior to commencement of business of the ....

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....os. 2 & 3 has already been decided in favour of the assessee by the Order of ITAT, Agra Bench, Agra in assessee's own case for the Assessment Year 2005-06 in ITA No.704/Agr/2008 ACIT vs. M/s Osho Associates, Order dated 17th September, 2010. He also produced copy of the same for perusal. The Ld. D.R. has not raised any serious objection on the statement made by the Ld. Counsel for the assessee. ....

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.... available with us, especially the impugned order, we are of the considered opinion that the addition of Rs. 3,80,696/- as mentioned in the ground of appeal on account of investment by the members of AOP, same has been invested by the members of the AOP. The Assessing Officer has also recorded the statement of the members during the course of assessment proceedings and they confirmed the same. As ....