should not be treated as deemed income
u/ sec.69C of the Act. Rejecting the various explanations given
by the assessee, the Assessing Officer invoked ... provisions
of sec.69C r.w.s.115BBE to the above income.
2.3. He also invoked provisions of sec.69A r.w.s.115BBE
being
respect
of purchase of motor vehicle as unexplained expenditure under section 69C
r. w. s. 115BBE and the learned CIT (Appeals) has erred in confirming ... respect of sale
/purchase of motor vehicle as unexplained expenditure under section 69C r.w.s
115BBE.
The ground raised is examined carefully. During
during the
course of survey action u/s 133A of the Act as unexplained u/s 69 / 69C and taxing
the same u/s 115BBE ... excess
expenditure in the furniture at the business premise under section 69 and section
69C respectively. However, no case or justification of assuming the excess
therefore
treated as Unexplained expenditure and held as income under section 69C of the
I.T. Act 1961. Penalty proceedings ... expenditure
is logically inconsistent. The appellant further contended that provisions of section
69C can only be invoked when sources of funds of expenditure incurred
therefore
treated as Unexplained expenditure and held as income under section 69C of the
I.T. Act 1961. Penalty proceedings ... expenditure
is logically inconsistent. The appellant further contended that provisions of section
69C can only be invoked when sources of funds of expenditure incurred
therefore
treated as Unexplained expenditure and held as income under section 69C of the
I.T. Act 1961. Penalty proceedings ... expenditure
is logically inconsistent. The appellant further contended that provisions of section
69C can only be invoked when sources of funds of expenditure incurred
therefore
treated as Unexplained expenditure and held as income under section 69C of the
I.T. Act 1961. Penalty proceedings ... expenditure
is logically inconsistent. The appellant further contended that provisions of section
69C can only be invoked when sources of funds of expenditure incurred
therefore
treated as Unexplained expenditure and held as income under section 69C of the
I.T. Act 1961. Penalty proceedings ... expenditure
is logically inconsistent. The appellant further contended that provisions of section
69C can only be invoked when sources of funds of expenditure incurred
therefore
treated as Unexplained expenditure and held as income under section 69C of the
I.T. Act 1961. Penalty proceedings ... expenditure
is logically inconsistent. The appellant further contended that provisions of section
69C can only be invoked when sources of funds of expenditure incurred
therefore
treated as Unexplained expenditure and held as income under section 69C of the
I.T. Act 1961. Penalty proceedings ... expenditure
is logically inconsistent. The appellant further contended that provisions of section
69C can only be invoked when sources of funds of expenditure incurred
