TaxTMI 
TaxTMI 
2010 (8) TMI 62
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....61") challenging the order dated 13th November, 2009 passed by the Income Tax Appellate Tribunal (for brevity "Tribunal") in ITA No. 187/Del/2009 for the Assessment Year 2000-2001. 2. Ms. Suruchii Aggarwal, learned standing counsel for the Revenue stated that the Assessing Officer had rightly made an addition of Rs. 51.50 lacs, as the same were loans advanced to the respondent-assessee by two par....
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....ank accounts and had even furnished their PAN details. In fact, the tribunal in its order has observed as under :- "4. We have considered the rival submissions. A perusal of the assessment order clearly shows that the assessee has furnished the confirmation of the parties. The assessment order also shows that the assessee had been asked to produce the parties in person and this was not done. A pe....
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....e Tripartite agreement had also been referred to in the assessment proceedings. The order of Ld. CIT(A) also categorically mentions that the confirmation letter contains their PAN details and that they are assessed to tax. The CIT(A) had also given categorical finding that the amounts have been duly reflected in the bank accounts of both the parties and they are also reflected in the accounts and ....