TaxTMI 
TaxTMI 
2020 (11) TMI 412
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....hubaneswar dated 25.7.2017 for the assessment year 2014- 2015. 2. The appeal is time barred by 13 days. The assessee has filed condonation petition duly supported by affidavit stating the reasons therein. It is stated that due to illness, the assessee was advised bed rest by the doctor and, therefore, there was delay of 13 days in filing the appeal. After hearing the rival submissions and conside....
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....e has deposits of Rs. 2,00,000/- each totaling to Rs. 4,00,000/- in two bank accounts of ICICI Bank on 2.4.2013. He submitted that the sale proceeds of two days i.e. on 1.4.2013 and 2.3.2013 were Rs. 2,94,040/- but the same were wrongly taken by the Assessing officer as Rs. 46,160/- and Rs. 52,240/-, respectively. Ld A.R. of the assessee filed ledger account for the period 1.4.2013 to 31.3.2014, p....
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....has been reflected in the ledger account and in cash book, there was opening balance of Rs. 1,97,550/-. If these opening balance and cash receipts are taken into consideration, then, the assessee has sufficient funds in its hand to deposit cash of Rs. 4,00,000/- in two bank accounts. The AO has disbelieved the cash book as daily balancing was not done without considering the cash book and ledger a....
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....through demand drafts by the staff of the assessee directly depositing the cash in banks. The contention of the assessee is that although the demand drafts were made to Orissa State Beverages Corporation ltd., from two bank accounts of the assessee but due to some urgency and other compelling situation, the drafts were made from other bank accounts by depositing the cash by the staff members of th....