2013 (3) TMI 11

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....i Respondent Counsel :- A. Bansal,S.K. Garg ORDER Present appeal has been filed under Section 260-A of the Income Tax Act, against the order dated 28.11.2008 passed by the Income Tax Appellate Tribunal, Allahabad Bench, Allahabad in I.T.A. No. 373/All/07 for the assessment year 2004-05. The following substantial questions of law have been proposed in the memo of appeal :- 1. "Wheth....

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....ananjay Awasthi, learned counsel for the appellant and Sri Ashish Bansal, learned counsel for the assessee. The background facts may be noticed in brief: The assessee is Private Limited Company. During the assessment in question, it had issued share capital in which a sum of Rs.1,30,50,000/- was invested by various investors as application money. The said amount was treated as unexplained in....