2016 (10) TMI 1373

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....M The assessee has filed an appeal against the order of the ld. CIT(A), Alwar dated 14-03-2016 for the assessment year 2007-08 raising therein following grounds:- ''1. On the facts and in the circumstances of the case, the ld. CIT(A) has grossly erred in sustaining the addition of Rs. 2,99,981/- made u/s 40A(3) of the I.T. Act, 1961 without appreciating the fact that return of income w....

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....se for the assessment year 2006-07 vide its order dated 12-04-2015 in ITA No. 734/JP/2015. Hence, this issue is covered in assessee's own case which may kindly be considered. 2.2 The ld. DR relied on the orders of the authorities below. 2.3 I have heard the rival contentions and perused the materials available on record. I find merit in the submission of the ld. AR of the assessee that s....