9911796707
TMI Blog2012 (7) TMI 548X X X X Extracts X X X X X X X X Extracts X X X X ..... .K. GUPTA, J.M. These are the appeals by Revenue against two different orders of ld. CIT (A), Ajmer dated 30-03-2011 relating to assessment years 1998-98 and 1999-2000. 2.1 Similar issues are involved in the appeals of the department. The Department is agitating as to deletion of addition of Rs. 56.00 lacs each for both the assessment years made on protective basis in the hands of the assessee by the AO. 2.2 The facts in this case as noted by Ld.CIT(A) are that the assessee was the Branch Manger in Ajmer Branch of Oriental Bank of Commerce during the relevant year. Return declaring taxable income of Rs. 1,38,540/- was filed. Assessment u/s 143(3) of the Act read with Section 147 was made in his case on 28-01-2001, in which total in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch respectively. Similar addition of Rs. 56.00 lacs was made for the assessment year 1999-2000. The assessee preferred an appeal before the ld. CIT(A) who observed that the impugned additions were already confirmed by him in the name of three persons. Therefore, the protective addition was deleted by the ld. CIT(A) for both the assessment years. 2.3 Now the Department is in appeal before the Tribunal. 2.4 The ld. DR placed reliance on the orders of the AO. 2.5 On the other hand, the counsel of the assessee placed reliance on the orders of the ld. CIT(A). Reliance was also placed on the written submission place on record. It was further submitted that even the C.B.I. Court has exonerated the assessee. The attention of the Bench was dra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e A.O. made addition of Rs.1,72,22,050/- on protective basis on account of deposits in bogus benami fictitious amount in Oriental Bank of Commerce which includes and addition of Rs.4,97,578/- on account of commission earned. Assessee preferred appeal before CIT(A) who deleted both the addition i.e. on account of fictitious deposits at Rs.1,65,85,930/- and Rs.4,97,578/- on account of commission totaling Rs.1,72,22,050/-. Department has not filed any appeal before Tribunal in respect to addition deleted of Rs.1,65,85,930/-. However department filed appeal in respect to commission of Rs.4,97,578/- deleted by CIT(A). This addition was also deleted by Tribunal. The addition on substantive basis was made in case of Gutkha Group alongwith in the n ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
