facts.
5. The Id. CIT(A) has erred in not granting telescoping effect
of income already surrendered by the appellant in the various
years ... also further erred in not granting telescoping
effect of the additions sustained.
6. The appellant prays for suitable costs
7. The appellant craves liberty
held that the appellant is allowed to
claim telescopic effect of the additions made and the appellant be
granted consequential relief in accordance with ... profits from unaccounted business activities. The
ld. AR prayed that the telescopic effect of the cash declared may be given to
the assessee against addition
effective two
grounds raised by the assessee:-
"I. DENIAL OF TELESCOPING EFFECT OF UNEXPLAINED ASSETS WITH
THE CASH FUNDS AVAILABLE WITH SMT. CHANDRIKABEN ... erred in law and on facts while failing to give the
telescoping effect of unexplained assets with the cash funds available with
Smt. Chandrikaben
have allowed proper set-off or telescoping effect of these transactions. Thus, after
considering the nature of transactions appearing in the seized material, telescoping
benefit ... abundantly clear that correct unaccounted income
can be derived by giving telescopic effect. However, the appellant has taken alternate
plea, though not accepted that peak
have allowed proper set-off or telescoping effect of these transactions. Thus, after
considering the nature of transactions appearing in the seized material, telescoping
benefit ... abundantly clear that correct unaccounted income
can be derived by giving telescopic effect. However, the appellant has taken alternate
plea, though not accepted that peak
have allowed proper set-off or telescoping effect of these transactions. Thus, after
considering the nature of transactions appearing in the seized material, telescoping
benefit ... abundantly clear that correct unaccounted income
can be derived by giving telescopic effect. However, the appellant has taken alternate
plea, though not accepted that peak
have allowed proper set-off or telescoping effect of these transactions. Thus, after
considering the nature of transactions appearing in the seized material, telescoping
benefit ... abundantly clear that correct unaccounted income
can be derived by giving telescopic effect. However, the appellant has taken alternate
plea, though not accepted that peak
have allowed proper set-off or telescoping effect of these transactions. Thus, after
considering the nature of transactions appearing in the seized material, telescoping
benefit ... abundantly clear that correct unaccounted income
can be derived by giving telescopic effect. However, the appellant has taken alternate
plea, though not accepted that peak
have allowed proper set-off or telescoping effect of these transactions. Thus, after
considering the nature of transactions appearing in the seized material, telescoping
benefit ... abundantly clear that correct unaccounted income
can be derived by giving telescopic effect. However, the appellant has taken alternate
plea, though not accepted that peak
have allowed proper set-off or telescoping effect of these transactions. Thus, after
considering the nature of transactions appearing in the seized material, telescoping
benefit ... abundantly clear that correct unaccounted income
can be derived by giving telescopic effect. However, the appellant has taken alternate
plea, though not accepted that peak
