2019 (11) TMI 1022

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....sessment u/s 143 (3) of The Income Tax Act 1961 passed on 29/2/2016 were confirmed. 2. The assessee filed his return of income declaring total income of INR 581350/- on 30/9/2013 which was assessed by the learned assessing officer u/s 143 (3) of the income tax act on 29/2/2016 at INR 804530/-making certain additions/disallowances. The assessee preferred appeal before the learned CIT(A), who confirmed the order of the learned assessing officer and therefore assessee is in appeal before us. 3. We have heard the rival contentions and perused the orders of the lower authorities. Each of the above disallowances/additions contested by the assessee is dealt with here under. 4. The first issue involved in this appeal is the disallowance of....

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....g an asset, which is used for the purposes of the business of the assessee. The learned assessing officer has presumed that assessee is not using motor car for his business purposes, which cannot be the basis of disallowance of depreciation. Accordingly we direct the learned assessing officer to delete the disallowance of depreciation of INR 65522/-. Accordingly, the 1st disallowance made by the learned assessing officer is deleted. 5. The 2nd issue involved in this appeal is addition of INR 90,000 being cash deposited in savings bank account of the appellant. The appellant has explained before the learned assessing officer that as assessee has sold his old car and has purchased the new car , the old car was sold for INR 90,000 and such ....