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2017 (11) TMI 1223
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.... : Ms. Rano Jain with Mr. Pranjal Srivastava and Ms. Devina Sharma, Advocates ORDER CM No.39262/2017 (exemption) Exemption is allowed subject to all just exceptions. ITA 923/2017 1. The Revenue states that a substantial question of law has arisen due to deletion of Rs. 2,86,86,270/-, which was assessed in the hands of the respondent. 2. The respondent is a former Chief Executive ....
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....it Mehra on 23.05.2005 and Sh. Mohit Mehra signed various documents to obtain bank loan of $3,29,500 on 23.05.2005. The only link between the appellant and the property is the above power of attorney in favour of the appellant's son in law and the documents signed by the son in law to obtain the bank loan. This evidence mentioned in the FIR is not adequate to conclude that the appellant have prope....
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....st the appellant in the charge sheet, the addition of Rs. 2,86,86,270/- is sustainable as the addition was not made on the basis of any evidence. Even on the basis of the FIR the addition can be made at best on the son in law only, who is a permanent resident of USA and assessed to tax in USA, and not on the appellant. Moreover, the appellant's AR during the appellate proceedings had informed that....