2013 (12) TMI 1201

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....r the Respondent : Subham Agarwal ORDER We have heard Shri Dhananjay Awasthi, learned counsel for the revenue. Shri Subham Agrawal appears for the respondent assessee. Shri Subham Agrawal states that he is not receiving any instruction from the respondent assessee. Be that as it may, since Shri Dhananjay Awasthi is present on behalf of the revenue, we have heard the appeal. While as....

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....rting export business. An account was opened in her name on the assurance given by him. She did not know any person by the name of Rahul Gupta, and that no forgery case was filed against her by any government department. She stated that she was not given the cheque book by Shri Deepak Gupta. The A.O. found that Rs.33,90,038/- was deposited in cash in the account in the name of the assessee in C....

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....t is clear that the assessee or his family members did not have any source of income from which the impugned amounts could be credited in her bank account. Further, the utilization of various amounts from the bank account was made by Shri Deepak Gupta by transferring money to various concerns. In the case of CIT v. P.K. Noorjahan (1999) 237 ITR 571, Hon'ble Supreme Court referred to the findings o....

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....roperly, it cannot be said that the impugned amount of Rs.33,90,040/- was the income of the assessee. Respectfully, following the ratio of the decision in the case of P.K. Noorjahan (supra), the addition is deleted and the appeal is allowed. This order was pronounced in the open Court on 26.10.2007." We do not find any error of fact or law in the order of the Tribunal. The authorities have r....