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Case Law Details

Case Name : Dirisala Bala Murali Vs ITO ( ITAT Visakhapatnam)
Related Assessment Year : 2011-12
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Dirisala Bala Murali Vs ITO ( ITAT Visakhapatnam)

The issue under consideration is whether the AO is justified in making addition u/s 68 towards alleged unexplained deposit in the bank account in as much as a bank account is not a book of account maintained by the appellant?

ITAT states that, the bank Pass Book or bank statement cannot be construed to be a book maintained by the assessee for any previous year as understood for the purposes of section 68 of the Act. In the

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