2017 (1) TMI 173

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....th Ranka For the Respondent :Parinitoo Jain ORDER In both the cases application for substitution of LRs are allowed. Amended cause title is taken on record. 1. In both these cases identical questions of law and facts are involved, hence both these cases are decided by this common order. 2. Brief facts of the case are that the assessee in this case is an individual who derived income....

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....nd recovered 2 more silver in gots weighing about 30 kgs each. Shri Prakash Chand Thakur identified the assessee as the person who had got 75 bars of silver unloaded from a truck along with himself at Noida godown where already some more silver bars were lying and had left him to guard these silver bars. The assessee gave voluntary statement before the Customs Authorities on 18.3.89 and again on 1....

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....s under:- "Whether on the facts and in the circumstances of the case, the Tribunal, after construing and interpreting the provisions contained in sec 69A of the Income Tax Act, 1961, was right in law, in holding that the assessee was the owner of 144 silver bars found at premises no. A-11, A-12, Sector VII, Noida and two silver bars found at the premises of Lunia & Co. Delhi and in sustai....

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....ictional Court reported in 272 ITA 626 and decision of Supreme Court reported in 82 ITR 794 and another decision of Madhya Pradesh High Court reported in 155 ITR 34 and 241 ITR 2001 of Allahabad High Court, the issue no. 2 is not required to be answered. However, counsel for the respondent Ms. Parinitoo Jain has relied upon the following decisions (1)Fakir Mohammad Hazi Hasan reported in (2001) 24....