2021 (3) TMI 982

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..... DR ORDER PER N. K. CHOUDHRY , JUDICIAL MEMBER This appeal has been preferred by the assessee against the order dated 30/08/2019 impugned herein passed by the ld. CIT(A)-1, Visakhapatnam u/sec. 250(6) of the Income Tax Act, 1961 (hereinafter referred to as "Act") for the A.Y. 2013-14. 2. The assessee has raised the following amended grounds of appeal:- "1. The orders passed u....

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....h was deposited by the assessee in his bank account in two transactions on 11/09/2012 (Rs. 5.00 lakhs) and 12/11/2012 (Rs. 2.00 lakhs). The AO has held that the said amount was credited as a loan from A. Satyanarayana, however, the said person could not explain the source for the same. 4. In appeal before the ld. CIT(A), the assessee had discharged his onus on account of identity, creditworthin....

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....ld. DR refuted the claim of the assessee and supported the order of the ld. CIT(A). 7. We realise that the ld. CIT(A) while passing the impugned order thoroughly gone into the details of the amount deposited by the assessee in his bank account and came to a conclusion as it can be seen from the record that the assessee had discharged his onus qua identity, creditworthiness and genuineness of th....