INCOME TAX OFFICER Vs. RONAK MOTORS

JUDGEMENT

(1.) THIS appeal has been filed by Revenue against the order of Commissioner of Income Tax (Appeals) -IV, Surat, dated 21.12.2010 for A.Y. 2006 -07 on the following grounds:

(2.) THE main component of addition is Rs. 13,08,000/ - as unexplained cash credits u/s. 68 of the Act. Assessing Officer while making addition mentioned that assessee did not furnish any information regarding the following unsecured loans:

(3.) NEXT addition is with regards to addition of Rs. 3,43,634/ - as unexplained income on the basis of interest non receipt of reply from parties u/s. 133(6) of the Act. It was explained by assessee that these were regular business parties. While making the addition, Assessing Officer mentioned that notices were issued u/s. 133(6) of the Act but either they could not be served or no reply was received in following cases: - -