INCOME TAX ACT, 1961

--Income from undisclosed sources--Addition under section 68 New additions vis-a-vis enhancement of amount on fresh proceedings--In original assessment order under section 144 assessing officer added a sum of Rs. 23,64,272 as cash credit under section 68 which was upheld by Commissioner (Appeals). In further appeal, Tribunal set aside assessment to be made, afresh de novo. I fresh assessment assessing officer noted that total new credits during the year were Rs. 1,02,35,478 and not 23,64,272 taken in original assessment. He therefore, made an addition of Rs. 1,02,35,478. Held: assessing officer in the original assessment had added fresh cash credits which were computed by taking the difference between opening balance and closing balance as the assessee had not given the details of the fresh loan during the year. On verification it was found that the fresh loans were Rs. 10,23,35,478 during the year. It cannot thus be said that assessing officer had made any new addition. The addition made remains the same being new cash credits and any the figures had changed on verification. Therefore, there cannot be a case of enhancement of income by assessing officer in set aside assessment.