In this case the assessee reflected credit balance of Rs. 45 lakhs in the name of the company. During the course of assessment proceedings, the assessee filed reply only for Rs. 15 lakhs. Hence, the AO added the remaining credit balance to the income of the assessee. The Ld. CIT(A) deleted the addition. On further appeal, the Hon’ble appellate tribunal held that the amount of Rs.15 lakhs as accepted by the AO has similarly been received by the assessee through banking channels by cheques. Hence, there is no reason why the remaining amount is to be considered as unexplained cash credit. The assessee had also placed account confirmation from the party. Therefore, the addition made by AO is unjustified.  (AY. 1996-97)