2022 (2) TMI 574

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....or the Respondents : Rajiv Doshi, A.R. ORDER Per Mahavir Prasad, JM The captioned appeal has been filed at the instance of the Revenue against the order of the Commissioner of Income Tax (Appeals)-1, Rajkot ('CIT(A)' in short) vide Appeal No. CIT(A)-I/Rjt/0101/14-15, dated 28.03.2016 arising in the assessment order dated 24.03.2014 passed by the Assessing Officer (AO) under s. 143....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the AO called for bank statement from ICICI Bank Ltd. u/s. 133(6) on perusal of which it was noticed that the assessee has deposited huge amount of cash in aggregate of Rs. 5,88,43,806/- on various dates in his above bank account. During the course of assessment proceedings the assessee in his statement recorded on oath as well as in response to the show cause notice submitted that the cash depos....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....unt. As such the said deposits were treated as assessee's income from undisclosed sources and added back to the total income. 4. Thereafter, the assessee preferred first statutory appeal before the learned CIT(A) who partly allowed the appeal of the assessee. 5. Now, the Revenue is before us. 6. We have gone through the relevant records and impugned order. The question before us is wh....