2013 (7) TMI 1199

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....ot survive for adjudication. The surviving grounds No.1 and 2 are reproduced herein under:- "1 On the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in restricting the addition at Rs.1,79,818/- regarding [a] unexplained cash deposit of Rs.10,21,500/-, [b] closing balance of unaccounted bank a/c. with ICICI bank of Rs.25,054/- and [c] closing balance of share a/c. which was not shown in the return of income were added by the A. O. 2. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in directing to allow the set-off or carry forward capital loss incurred in share transactions of Rs.1,81,708/- which was not shown in the return of income." 3. The facts of the case are that t....

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....,544/- recorded in the ICICI Bank account. The learned CIT(A) made the following detailed observations while arriving at this conclusion:- "6. I have gone through the assessment order and also submissions of the appellant. After carefully going through the facts of the case, I am of the opinion that the addition made by the A. O. is not in conformity with the facts due to following reasons: I. It is not a denying fact that the transactions related to the bank a/c were not disclosed in the return of income by the appellant. When it was confronted by the A. O., the appellant submitted the details regarding this bank a/c. which was opened by the appellant for making investment in shares. The submissions of the appellant regarding the sour....