2015 (1) TMI 93

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.... ORDER Per George George K, Judicial Member This appeal by the revenue and the cross objection by the assesse arise out the CIT(A) order dated 16.4.2010. The relevant asstt. Year is 2002-03. 2. In the revenue's appeal the challenge is with reference to deletion of addition of Rs. 13,79,700/- made by the AO u/s 68 of the Income Tax Act. In the assessee's cross objection the grounds raised rel....

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....Income Tax vs. Sushila Saraogi (supra) after considering the precedents on the subject held instruction No. 5/14 issued by the CBDT on 10.7.2014 is applicable to the pending appeals. The Tribunal followed the dictum laid down the judgments of the various High Courts including the two judgments of the Hon'ble Jurisdictional High Court in the case of CIT vs. M/s. P.S. Jain & Co. in ITA No.179/1991 d....