2017 (10) TMI 871

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....ssessee is directed against order passed by the CIT(A) on 18.01.2017 in relation to the assessment year 2008-09. 2. Only ground no.2, against the sustenance of addition amounting to Rs. 27,50,000/- made u/s 68 of the Income-tax Act, was pressed. Other grounds, therefore, stand dismissed as not pressed. 3. Briefly stated, the facts of the surviving ground are that during the course of assessm....

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....Paper Products Pvt. Ltd., the Assessing Officer added a sum of Rs. 27,50,000/- u/s 68 of the Act, being, the amount received from this party during the year through various cheques. The ld. CIT(A) confirmed the addition. The assessee is aggrieved against the sustenance of such addition. 4. I have heard the rival submissions and perused the relevant material on record. A copy of the account of M....