2009 (12) TMI 955

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....RABLE MR.JUSTICE K.A.PUJ) 1. The Commissioner of Income tax II, Ahmedabad has filed this Tax Appeal under Sec. 260A of the Income tax Act, 1961 for Assessment Year 200304 proposing to formulate the following substantial questions of law for consideration and determination of this Court: [A] Whether the Appellate Tribunal is right in law and on facts in confirming order passed by the CIT(A) del....

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....,000/received by the assessee as deposits on the grounds that the assessee could not prove the identity and creditworthiness of the creditors and genuineness of the transaction. The Tribunal found that loans were received by the assessee through baking channel by Account Payee Cheque. The assessee has also filed loan confirmations giving the Permanent Account Number of the loan creditors. Thus, th....