2004 (10) TMI 56

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....ax Act, 1961 (hereinafter referred to as "the Act"), for opinion to this court: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in deleting the addition of Rs. 1,01,399 even though it represented unexplained cash credits and deemed income under section 68 of the Income-tax Act, 1961?" Briefly stated the facts giving rise to the present reference are as fol....

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....e-tax (Appeals) on the ground that they were mere deposits and could not be treated as income. He found that the respondent-assessee had been maintaining regular accounts of patients for the moneys deposited by them, for the fee charged from them and refund of balance allowed to them. After examining a number of items forming part of annexure C to the assessment order, the Commissioner of Income-t....