(1.) BOTH the appeals by assessee are arising out of separate orders of CIT(A) -XXXVI, Kolkata in Appeal No. 232/231/CIT(A) -XXXVI/Kol/Wd -1(1),Hg/10 -11 dated 20.11.2013. Assessments were framed by ITO, Ward -1(1), Hooghly u/s. 147/143(3) of the Income -tax Act, 1961 (hereinafter referred to as the "Act") for A.Ys. 2005 -06 & 2006 -07 vide his separate orders both dated 15.12.2010.
(2.) THE only common issue in these two appeals of assessee is against the orders of CIT(A) confirming the action of AO making addition of unexplained investment u/s. 69 of the Act on account of undisclosed purchases and profit thereon at Rs. 16,66,292/ - as purchases and profit of Rs. 2,35,016/ - and undisclosed purchases of Rs. 6,42,767/ - and profit thereon at Rs. 40,361/ - for A.Ys. 2005 -06 and 2006 -07 respectively. For this, assessee has raised common ground and facts and circumstances are exactly identical in both the years. Hence, we will take the issue and facts from AY 2005 -06 in ITA No. 124/K/2014 and decide the issue. The grounds raised vide effective ground Nos. 2 to 6 read as under:
(3.) THAT the Ld. CIT(A) was unjustified in applying the explanation to section 69 of I.T. Act, 1961.