TaxTMI 
TaxTMI 
2015 (6) TMI 1194
X X X X Extracts X X X X
X X X X Extracts X X X X
....IA, A.M. This is Revenue's appeal directed against the order passed by learned CIT(A)-II, Lucknow dated 29/04/2014 for the assessment year 2005-2006. 2. In this appeal the Revenue has raised the following grounds: "1. The Commissioner of Income-tax (Appeals), Lucknow has erred in law and on facts of the case in deleting the addition made by the Assessing Officer of Rs. 15,68,500/- u/s 69A of....
X X X X Extracts X X X X
X X X X Extracts X X X X
....eproduced below for the sake of ready reference:- "8. I have examined the facts of the case, assessment order, written submissions of appellant filed during appellate proceedings and I find that there was some force in the argument of appellant that the AO was not justified in making the addition of Rs. 15,68,500/- u/s 69A of the IT Act. The assessing officer has recorded the statement of the a....
X X X X Extracts X X X X
X X X X Extracts X X X X
....dingly profit earned thereon was also not disclosed. 9. On perusal of the entries reflected in the said bank account reveals that the cash deposits and withdrawals were made regularly during the assessment year under consideration. Therefore the AO was not justified in making the addition of Rs. 15,68,500/-, the entire cash deposits during the assessment year under consideration. On the other h....
X X X X Extracts X X X X
X X X X Extracts X X X X
....appellant has also earned gross profit @13.8% on sale of Rs. 15,68,500/- which works out to Rs. 2,16.453/-. Thus the addition is sustained to the extent of Rs. 2,16,450/-. The appellant thus gets a relief of Rs. 13,52,050/-." 4.1 From the above Paras from the order of learned CIT(A), it is seen that a clear finding has been given that on perusal of the entries reflected in the said bank account,....