2015 (9) TMI 1118

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.... Mukhi, Adv ORDER Ajay Kumar Mittal, J. 1. The revenue has claimed the following substantial question of law in this appeal filed under Section 260A of the Income Tax Act, 1961 (in short "the Act") against the order dated 28.10.1999 (Annexure A-3) passed by the Income Tax Appellate Tribunal, Chandigarh Bench, Chandigarh (hereinafter referred to as "the Tribunal") in ITA No. 914/Chandi/199....

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....olly) made an addition of Rs. 3,56,000/- on account of peak of cash in the books of account of the assessee in the names of various creditors and banks etc. as on 31.3.1984 and on pointing out by the Assistant Commissioner of Income Tax that there was a calculation mistake, the Assessing Officer vide rectificatory order under Section 154 of the Act increased the addition of Rs. 3,56,000/- by a sum....

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....1977-78 and allowed the benefit of set off in the assessment year 1984-85. 4. On the other hand, learned counsel for the assessee supported the order passed by the Tribunal. 5. After hearing learned counsel for the parties, we do not find any merit in the appeal. The Tribunal while dismissing the appeal of the revenue had held as under:- "5. A perusal of the impugned order of the Tr....

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....nly state that the ld. DR vehemently supported the order passed by the Assessing Officer." 6. It was recorded by the Tribunal that the assessee had declared an amount of Rs. 2,40,000/- for the assessment year 1976-77 and Rs. 3,50,000/- for the assessment year 1977-78 under the Amnesty Scheme. It was also noticed that addition of Rs. 3,56,500/- was not required to be separately made as the same ....