2013 (10) TMI 212

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....d this appeal under Section 260 A of the Income-tax Act 1961 ("Act" for short) challenging the order of the Income-tax Appellate Tribunal, Ahmedabad Bench in ITA No. 437/AHD/2005, raising following substantial question of law for our determination :-      "Whether the Appellate Tribunal is right in law and on facts in confirming the order passed by CIT(A) deleting the additi....

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....rami Sheth for the Revenue. 6. As can be noted from the record, the CIT [A] on realizing that the loans were received from the bank account of Kikani Brothers, in which the money from the sister concerns of the assessee were found deposited before issuance of the cheques by the assessee, was on satisfaction having been arrived at satisfaction of genuineness of the credit. 7. The Tribunal con....

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....arties of Pittaliya Group, the ld. CIT (Appeals) deleted the addition by observing that "I have gone through the confirmation letters filed by the appellant from pittalya group. As the credits have been confirmed by them and they have explained source of credits, the said credits are accepted as genuine" We, thus, find that no discussion was made in the order by the ld. CIT (Appeals) about the sou....