2022 (12) TMI 1014

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... in filing the appeal is condoned and admitted for adjudication. 3. Brief facts of the case are that the assessee filed her return of income for the assessment year 2011-12 on 30.03.2013 returning total income of Rs..2,35,280/-. During the course of remand proceedings relating to assessment year 2012-13, the assessee submitted certain working to show "summary for cash transaction", "individual capital account and balance sheet" and copy of bank account statement of Tamilnad Mercantile Bank. On perusal of the bank statement, the Assessing Officer noted following credit entries: 15/10/2010 Rs.. 8,28,000/- 31/10/2010 Rs.. 3,00,000/- 31/10/2010 Rs.. 3,00,000/- 4. The assessee has submitted before the Assessing Officer th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ing paper book filed by the assessee. In this case, the Assessing Officer made addition of Rs..6,00,000/- as unexplained credit. However, the Assessing Officer has not mentioned the relevant section under which, the addition was made, but "unexplained credit" comes under section 68 of the Act. In the appellate order, in page No. 7, para (v), the ld. CIT(A) has noted that "However, I am also in agreement with the appellant that the provisions of section 68 are not applicable to the appellant". Therefore, the ld. CIT(A) treated the addition of Rs..6,00,000/- as unexplained money under section 69A of the Act and confirmed the addition. Section 68 of the Act deals with "unexplained Credit" in the books of the assessee and section 69A of the Act....