2017 (1) TMI 628

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....P.K.Jain ORDER 1. This appeal under Section 260A of Income Tax Act, 1961 has arisen from the judgment and order dated 30.9.2005 passed by Income Tax Appellate Tribunal, Delhi Bench 'D', New Delhi (hereinafter referred to as the "Tribunal") in Income Tax Appeal Nos.426 & 427/Del/2004(Assessment Year 1995-96 & 1996-97). 2. The appeal was admitted on following substantial questions of law:....

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.... said :- "19. On the other reasons given by the AO, we find that the entire material of the receipt of the share application money was disclosed in the accounts books, which were accepted and the assessments were finalised and thus the same material, namely the payment of upfront fees and the receipt of the share application money, could not be a ground reopen the assessment. We also find that t....