2016 (1) TMI 1389

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....by the assessee emanates from the order of the learned CIT(A), Ujjain, dated 18.2.2015. 2. The assessee has submitted an application on 11.12.2015 for taking additional ground with regard to 80C claim of Rs. 1 lakh which was claimed in the return of income but not allowed by the Assessing Officer. The Bench drew attention of the learned counsel for the assessee towards the provisions of section....

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....he Act on account of unexplained investment is illegal, wrong and unjustified. 5. That the appellant craves leave to add, alter, amend and/or withdraw any grounds of appeal on or before the hearing of appeal." 4. Ground nos.1 and 5 are general in nature and were not pressed before us. The same are dismissed. Ghanshym Sharma 5. In ground no. 2 the issue involved is estimating the net....

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....tted that this cash credit of Rs. 2 lakhs from Ku. Aditi Sharma was from earlier years and it was the opening balance. Therefore, the addition cannot be made in the year under consideration. The attention of the learned counsel for the assessee was drawn to the fact that nothing such evidence was submitted before the authorities below in support of this claim that this was unsecured loan received ....

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....,336/- made u/s 69 of the Act on account of unexplained investment. The learned counsel for the assessee submitted that once the income has been estimated by rejecting the books of accounts then no such addition can be made. As per the revenue, the assessee has purchased cement of Rs. 2,61,326/- from Manish Trading Company which was not disclosed. 11. After hearing both the sides, I am of the v....