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2007 (2) TMI 652
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....Aggarwal, Sr.Advocate with Mr.Prakash Kumar, Adv. O R D E R The Revenue is aggrieved by an order dated 31st May, 2005 passed by the Income Tax Appellate Tribunal, Delhi Bench F in ITA Nos.4053/DEl/99, 5316/D/98, 4123 and 4125/D/2000 relevant for the Assessment Year 1994-95 to 1997-98. The Revenue has essentially raised two issues before us. In so far as the first issue is concerned, that ....
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.... the amount could be added in the hands of the investor but it certainly could not be treated as undisclosed income of the Assessee. The Tribunal has also noted that the Assessee had discharged its initial burden and that share application money of Rs. 60 lacs by the same investor, that is Gold Mark Enterprises Ltd. was received for the assessment year 1996-97 and the Assessing Officer made no add....