2003 (9) TMI 41

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....ion 260A of the Income-tax Act, 1961 (for short "the Act"), is directed against order dated May 14, 2003, passed by the Income-tax Appellate Tribunal, New Delhi (for short "the Tribunal"), in I.T.A. No. 1001/Delhi of 2002, pertaining to the assessment year 1998-99. Briefly stated, the material facts, giving rise to the appeal, are as follows: During the course of assessment proceedings for t....

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.... as unexplained cash credit. Aggrieved, the assessee preferred an appeal to the Commissioner of Income-tax (Appeals). The Commissioner examined the documentary evidence adduced by the assessee minutely. Apart from other deficiencies therein, he also noticed that the bill of the jewellers dated January 13, 1994, produced by the assessee, showing the sale of jewellery by the said Vipin Kumar did ....

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....charged and, therefore, the authorities below were not justified in confirming the addition made by the Assessing Officer. Learned counsel submits that the order of the Tribunal involves a substantial question of law and, therefore, the appeal deserves to be admitted. We do not agree. The scope of an appeal under the newly inserted section 260A of the Act is restricted to adjudication on a "sub....

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....ining the question are well settled, mere application of it to a particular set of facts would not constitute a substantial question of law. In the instant case, the said Vipin Kumar tried to explain the source of a sum of Rs. 74,000 as follows: (i) a sum of Rs. 19,000 from his wife out of her savings in cash as she was a working lady; (ii) Rs. 30,000 out of refunds of small advances by his fri....