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TMI Blog2013 (12) TMI 634X X X X Extracts X X X X X X X X Extracts X X X X ..... were directors or the family members of the business concern - The facts and circumstances are identical with the facts of the assessee for the earlier A.Y.2007-2008 - The issue is restored to the file of the AO to verify the entries in the bank account of assessee with the bank accounts of S/Shri Chimanlal Jamnadas Sheth and Ketan Sheth or any other family members of the directors of the business concern. - ITA No.2687/Ahd/2012 - - - Dated:- 1-2-2013 - Shri G. C. Gupta And Tej Ram Meena,JJ. Shri Vijay Ranjan Shri Y. P. Verma ORDER Per G. C. Gupta, Vice-President:- This appeal by the assessee for the assessment year 2009-2010 is directed against the order of the CIT(A)-XXI, Ahmedabad dated 10.10.2012. 2. The learned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the CIT(A) for the A.Y.2007-2008, which was dismissed by the Tribunal for non-maintainability thereof due to tax effect involved in the case, being less than the monetary limited prescribed by the CBDT for filing of the appeal before the Tribunal. He submitted that the assessee has filed reconciliation statement for this year also under appeal, and therefore no part of the addition should be sustained in this case. The learned DR has relied on the orders of the AO and the CIT(A) in support of the case of the Revenue. 4. We have considered rival submissions and have perused the orders of the AO and the CIT(A) and also the copies of the documents filed in the compilation along with copy of the appellate order of the CIT(A) for the earlier ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd matching with these two accounts and no adverse inference is drawn. We find that the CIT(A) has recorded that the assessee has ultimately reconciled even the balance amount with such two accounts, and therefore has deleted the addition made for the assessment year 2007- 2008. We find that in view of the fact that the assessee was merely an employee and the amount deposited in his bank account by the directors or family members of the business concern, wherein he was an employee, were transferred to the bank account of the directors of the family concern, the assessee was merely a benamidhar of the bank account in his name, and since the money deposited therein were belonging to the directors or family members of the business concern, who ..... X X X X Extracts X X X X X X X X Extracts X X X X
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