TaxTMI 
TaxTMI 
2010 (8) TMI 36
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....N, J: For the reasons stated in the application, delay in re-filing the appeal is condoned. Accordingly, application stands disposed of. 1. The present appeal has been filed under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as "Act, 1961") challenging the order dated 29th July, 2009 passed by the Income Tax Appellate Tribunal (for brevity "Tribunal") in ITA No. 14/Del/200....
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....worthiness of Mrs. Shakuntala Devi. In fact, the CIT(A) in its order deleting the addition has observed as under :- "5.2 I have examined the remand report furnished by the A.O. as well as the submission filed by the AR of the appellant vide his letter dated 11.06.2005 and rejoinder dated 02.01.2008. The appellant has filed copy of the bank statement of M/s. S.K. Land and Finance Co. (Prop.) Smt. ....
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....958 10,00,000/- 14.03.2001 349966 10,00,000/- 17.03.2001 349970 10,00,000/- It is also seen from the bank statement that most of the money deposited in M/s. S.K. Land and Finance Co. is credited by way of transfer or clearing. Therefore, the observation made by the A.O. in remand report that most of money was deposited by way of cash is not correct. I have also gone through the copy of ba....
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....e produced substantial evidence to establish the identity and credit worthiness of Smt. Shakuntla Devi, genuineness of share application is also manifest from record. Therefore, non-production of Smt. Shakuntla Devi cannot be considered to negate the evidentiary value of rest of material. The issue about share application money being undisclosed of income of assessee has been set at rest by Hon'bl....