2010 (10) TMI 795

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....ondent   JUDGEMENT   Adarsh Kumar Goel, J:-   1. This appeal has been preferred under s. 260A of IT Act, 1961 (hereinafter referred to as "the Act") proposing following substantial question of law arising out of order dt. 9th Sept., 2009 of the Income-tax Appellate Tribunal, Chandigarh Bench 'B', Chandigarh (hereinafter referred to as "the Tribunal") passed in ITA No. 892/C....

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....e Tribunal observed in para 9 as under:-   "Apart from the aforesaid, insofar as the present case is concerned, there is no dispute regarding the nature and source of the impugned unsecured loans. The nature of the amounts having been received as unsecured loans and the sources thereof, is not in doubt. The assessee had also explained that such unsecured loans have been repaid within a sho....

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....2)(v) cannot distract from the fact that in the impugned case, the sum of money received in question carried a liability of its repayment and the same was not received by the assessee with an absolute unfettered right of possession. Therefore, in the totality of circumstances of the prsent case, we find no justification to uphold the stand of the AO and the CIT(A) was justified in deleting the imp....