Section 68 of Income Tax Act, 1961—the assessee submitted that the ld CIT(A) has erred in considering the amount of Rs. 50 lakhs received by the assessee from his wife Smt. Sanju Agarwal as unexplained cash credit u/s.68 of the Act.

Held that—On careful consideration of the rival submissions, we are of the view that when addition of Rs. 50 lakhs was made in the hands of the husband of the assessee u/s.2(22)(e) of the Act as the amount was directly transferred from ARSS Developers Ltd., to the account of the husband of the assessee, therefore, no further addition in the hands of the assessee is called for. Consequently, the ground of appeal of the assessee is allowed.[SANJU AGARWAL, SUBASH AGARWAL VERSUS DCIT, CIRCLE 1 (1) , BHUBANESWAR.] [2019] 20 ITCD Online (23) [ITAT CUTTACK]