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TMI Blog2013 (12) TMI 1485X X X X Extracts X X X X X X X X Extracts X X X X ..... 2010 is an appeal filed by the Assessee in Revenue's appeal in ITA No.103/Kol/2008. 2. Shri Varinder Mehta, CIT(DR), represented on behalf of the Revenue and Shri Somnath Ghosh, Advocate and V.N.Purohit, FCA represented on behalf of the Assessee. 3. In the Revenue's appeal, the Revenue has raised the following grounds:- "1. That Ld. CIT(A) erred on fact as well as in law in deleting the addition of Rs. 43,71,253/- on account of undisclosed capital introduction and unaccounted profit of the business without appreciating the actual facts of the case. 2. That on the facts and in the circumstances of the case the Ld. CIT(A) erred on fact by deleting the addition of Rs. 62,189/- which was unaccounted deposits made in Indian Bank, Bankura. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat of the audited balance-sheet and trading and profit & loss a/c. It was a submission that the trading and profit & loss a/c. in respect of the searched materials as also audited booked showed the identical turnover except for a difference of about Rs. 7.05 lakhs. It was a submission that the AO had treated the difference between the audited balance-sheet and the balance-sheet as found in BDM/18 as the undisclosed income of the assessee and made addition of Rs. 43,71,253/-. It was a further submission that the other addition representing unaccounted deposits in Indian Bank as also record of undisclosed receipts had been made. It was a submission that the ld. CIT(A), on appeal, deleted the addition representing the difference between the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd building whereas in the seized BDM/18, there is an item of land and building. Admittedly, if there is a land and building, such an asset cannot be hidden. Further, even the search did not unearth any such land and building. Further perusal of the reconciliation shows that the cash and bank balance show an amount of Rs. 1,18,774/-, as per the seized BDM/18 and as per the audited balance-sheet is Rs. 15,88,517.60. Here, the Revenue has not been able to identify any bank account, which is having a balance of Rs. 1,13,774.43 as shown in BDM/18. Further, the sundry debtors show an amount of Rs. 13,119/- as per BDM/18 whereas as per the audited balance-sheet, the figure is Rs. 11,36,148/-, which is a higher figure in the audited balance-sheet. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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