2013 (5) TMI 418

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.... ORDER Hemant Gupta, J. (Oral) The present appeal under Section 260-A of the Income Tax Act, 1961 (for short 'the Act') is directed against an order passed by the Income Tax Appellate Tribunal, Amritsar Bench, Amritsar (for short 'the Tribunal') on 11.04.2012 for the assessment year 2007-08. The Revenue has claimed the following substantial questions of law:- i) Whether the ITAT was jus....

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....ot but at the end of proceedings on 21.12.2009 she changed her stand stating that the funds had been raised from M/s SAR Stitchers Pvt. Ltd. Delhi whereas the balance sheet of M/s SAR Stitchers Pvt. Ltd. Delhi shows closing balance of Rs. 6,58,644/- as cash balance as on 31.03.2007 and the sum of Rs. 52 Lakhs received back is not reflected in their statements? The assessee filed her return of i....