9911796707
TMI Blog2023 (7) TMI 169X X X X Extracts X X X X X X X X Extracts X X X X ..... petition of the said mistake. Considering the above contentions of the assessee, the matter is restored to the file of the AO with a direction to adopt the correct figure of Rs. 96,00,000/- on account of FDR deposits in Bank of Maharashtra instead of Rs. 9,60,00,000/- as wrongly mentioned in the balance sheet by the accountant of the assessee. We direct the AO to consider the revised balance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to as the CIT(A) ) passed u/s 250 of the Income Tax Act (hereinafter referred to as the Act ). 2. The sole issue raised in this appeal by the assessee is relating to the addition made by the Assessing Officer of Rs. 8,04,17,440/- u/s 68 of the Act on account of unexplained credits shown in the balance sheet of the assessee. 3. At the outset, the ld. counsel for the assessee has invited ou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee to the extent of Rs. 8.64 crore. The ld. counsel has further submitted that the accountant further committed some mistakes in respect of other bank balances and cash in hand and thereby wrongly mentioned the figures in capital of Rs. 8,04,17,440/-. That the aforesaid facts were duly brought to the knowledge of the Assessing Officer. However, the Assessing Officer did not accept the aforesai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lance sheet also. The contention of the assessee has been rejected on the ground that the assessee has repeated the same figures for subsequent A.Y 2017-18. However, the counsel for the assessee, in this respect, has submitted that the assessee is an individual and does not maintain books of account. That the accountant of the assessee had taken the figure from the last year resulting into the rep ..... X X X X Extracts X X X X X X X X Extracts X X X X
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