2005 (1) TMI 51

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..... Sapre J.- This is an appeal filed by the assessee under section 260A of the Income-tax Act, 1961 against an order dated February 29, 2000, passed by the Income-tax Appellate Tribunal (for short hereinafter referred to as "the Tribunal"), in I.T.A. No. 268/Ind of 1995. This appeal was admitted for final hearing by passing the following order on July 20, 2000. This is what the order sheet of July ....

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....his stage mention that the names of the lawyers who appeared in the case on July 20, 2000 do not appear to be properly mentioned in the aforementioned order dated July 20, 2000. This is an appeal filed by the assessee. Shri Mahajan (since no more) was counsel for the assessee whereas Shri R. L. Jain was counsel for the Revenue. This fact was admitted by lawyers who appeared today at the hearing of....

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....? ii. Whether the learned Tribunal is not applying section 69 of the Income-tax Act to the facts of the case and erred in placing the burden of proof on the appellant to prove the genuineness of the transactions specially when the Revenue had no material? iii. Whether the order of the learned Tribunal holding that the liability was bogus is perverse?" In sum and substance, the questions o....

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....eshold of the hearing of the appeal is correct. Learned counsel only regretted what had transpired on July 20, 2000, at the time of hearing of the appeal on admission and what has now been pointed out to them. Even then no application was made by the appellant for framing proper substantial question of law which according to the appellant really arises out of the order of the Tribunal. No oral pra....