TaxTMI 
TaxTMI 
1982 (2) TMI 138
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....books of account of the assessee and he found the credits of Rs. 10,000 and Rs. 5,000 respectively in the name of Sarvashri Jang Bahadur Sharma and Anand Kumar Bijjan. The credits of Rs. 10,000 and Rs. 5,000 appeared on 19th Dec, 1975 and 17th Oct, 1975. Shri Anand Kumar Bijjan, inspite of the request of the ITO, was not produced before him. Shri Jang Bahadur Sharma appeared and he was examined. I....
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....t in appeal before the AAC and contended that Shri Jand Bahadur Sharma was in a position to lend Rs. 10,000 to the assessee. The transaction has been confirmed by Shri Sharma and the identity as well as the capacity of Shri Sharma has duly been proved. The assessee further stated that Shri Anand Kumar Bijjan was an Income-tax assessee and his G.I.R. No. was furnished to the AAC. However, Shri Anan....
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....and the assessment orders of Shri Bijjan for the asst. yrs. 1976-77 and 1977-78. On the basis of these papers, the counsel urged that Shri Sharma was drawing a salary of Rs.800 per month and he retired in 1978. His son was employed with the assessee and even after two years Shri Sharma also joined the firm as a partner. Under the above circumstances, the identity as well as the capacity of Shri Sh....
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.... Sharma as well as his son, who was an employee of the assessee, had been examined and they had confirmed the transaction. Shri Sharma was an employee, who was drawing a monthly salary of Rs. 800. He subsequently retired in 1978, and after about two years from the date of transaction, he had joined the firm as a partner. The identity as well as the capacity of Shri. Sharma, as urged by the D/R, wh....