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8. The facts are admitted and agreed by both the parties. The facts are that the return of income was filed by the assessee for the AY 2005- 06 on 31-10-2005. No notice under section 143(2) of the Act was issued by the AO up to 31-10-2006. It means that the assessment/processing of return of income were completed u/s 143(1) of the Act. No proceedings were pending. Subsequently, the survey under section 133A and search under section 132 of the Act was conducted by the department on the office premises of the assessee firm and residences of the partners on 16-11-2009. The AO during the course of assessment proceedings notice that the assessee has received unsecured loans from Bhawani M. Purohit amounting to Rs. 1,00,000/- and Ravi Purohit of Rs. 1.50 lacs and these are unexplained cash credits. The AO notices from annexure iii to firm No. 6B of the special audit report, which contains details of unsecured loans taken and repaid and according to him these unsecured loans are unexplained cash credits and accordingly he brought to tax u/s 68 of the Act. The CIT(A) also confirmed the action of the AO and confirmed the addition of unexplained cash credit u/s 68 of the Act amounting to Rs. 2.50 lakhs. Aggrieved, assessee preferred the appeal before Tribunal.

16. The next issue in this appeal of assessee is against the order of CIT(A) confirming the addition made by AO of unsecured loans as unexplained cash credit under section 68 of the Act. For this assessee has raised following ground No.2: -

"2. That the Assistant Commissioner of Income Tax, Central Circle 22, Mumbai has grossly erred in law and on the facts and circumstances of the case in making addition and the learned Commissioner of Income Tax (Appeals) -39, Mumbai has grossly erred in law and on the facts and circumstances of the case in confirming addition of Rs. 2,20,000/- on account alleged unsecured loans under section 68 of the Income Tax Act, 1961."

17. The facts are admitted and agreed by both the parties. The facts are that the return of income was filed by the assessee for the AY 2006- 07 on 31-10-2006 and original assessment was completed u/s 143(3) of the Act vide order dated 29-12-2008. No proceedings were pending.

Jawahar B. Purohi t, M/s M.R. Constr ucti on Subsequently, the survey under section 133A and search under section 132 of the Act was conducted by the department on the office premises of the assessee firm and residences of the partners on 16-11-2009. The AO during the course of assessment proceedings notice that the assessee has received unsecured loans from Deepak amounting to Rs. 25,000/- and Pawan M. Purohit of Rs. 1.95 lacs and these are unexplained cash credits. The AO notices from annexure III to firm No. 6B of the Special Audit Report, which contains details of unsecured loans taken and repaid and according to him these unsecured loans are unexplained cash credits and accordingly he brought to tax u/s 68 of the Act. The CIT(A) also confirmed the action of the AO and confirmed the addition of unexplained cash credit u/s 68 of the Act amounting to Rs. 2.20 lakhs. Aggrieved, assessee preferred the appeal before Tribunal.

30. The facts are admitted and agreed by both the parties. The facts are that the return of income was filed by the assessee for the AY 2008- 09 on 08-12-2008 and the return was processed u/s 143(1) of the Act and no proceedings were pending. Subsequently, the survey under section 133A and search under section 132 of the Act was conducted by the department on the office premises of the assessee firm and residences of the partners on 16-11-2009. The AO during the course of assessment proceedings notice that the assessee has received unsecured loans from Mr. Naik amounting to Rs. 50,000/-, Noranggrai Bajaj Rs. 27,757/- and Pawan M. Purohit Rs. 25,893/- and these are unexplained cash credits. The AO notices from annexure III to firm No. 6B of the Special Audit Report, which contains details of unsecured loans taken and repaid and according to him these unsecured loans are unexplained cash credits and accordingly he brought to tax u/s 68 of the Act. The CIT(A) also confirmed the action of the AO and confirmed the addition of unexplained cash credit u/s 68 of the Act amounting to Rs. 1,03,640/-. Aggrieved, assessee preferred the appeal before Tribunal.