2012 (11) TMI 413

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..... could not be said to be unbelievable or excessive - in favour of assessee. - ITA No.979/Ahd/2012 - - - Dated:- 5-10-2012 - S/SHRI G.C. GUPTA, AND ANIL CHATURVEDI, JJ. Assessee by: Shri S.N. Divetia Revenue by: Shri D.K. Singh O R D E R PER G.C. GUPTA, VICE-PRESIDENT: This appeal of the assessee for the A.Y.2008-2009 is directed against the order of the CIT(A). 2. The .....

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..... g cash balance by the AO to which the assessee has replied that he was 58 years of age and engaged in the business since long and regularly filed return of income before the Department. This amount of Rs.1,40,886/- was accumulated in cash in the hands of the assessee. He submitted that merely because the assessee was not maintaining account books in earlier years is not the ground to hold that t .....

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..... explained that he was of 58 years of age and was engaged in the business since long and was regularly filing the return of income year after year. We find that although the assessee was not maintaining any account books in earlier years, but the fact that he was of 58 years of age and was engaged in the business since past many years and has regularly filed return of income year after year, could .....

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