2018 (3) TMI 1592

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.... Section 260A of the Income Tax Act, 1961 (the Act), challenges the order dated 15th April, 2015 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order dated 15th April, 2015 is in respect of Assessment Year 2008-09. 2. Revenue urges the following question of law, for our consideration: "Whether on the facts and in the circumstance of the case and in law, the Tribunal was....

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....ion as framed for our consideration is that, Respondent-Assessee failed to establish the source of source i.e. source of the funds invested by the 13 share holders in the Respondent-Assessee's company. 5. The requirement to explain the source of source of funds in respect of amounts credited in the books of a company in which the public are not substantially interested as share application mo....