2001 (10) TMI 68

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....by JAWAHAR LAL GUPTA J.-The assessee has filed this appeal under section 260A of the Income-tax Act, 1961. It maintains that in the circumstances of this case the additions made by the impugned orders are unsustainable. A few facts may be noticed. The appeal relates to the assessment year 1990-91. The assessee filed its return declaring an income of Rs.84,630. The Assessing Officer after exa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....00 is concerned, the appeal was dismissed. Hence, this appeal. Mr. Mittal contends that the assessee had received loans from Smt. Gurdev Kaur and Mr. Amarjit Singh. Smt. Gurdev Kaur had a land and was, thus, in a position to advance a loan of Rs.23,000. Similarly, even Amarjit Singh had made the payment by cheque. In this situation, counsel submits, the action of the authorities in sustaining t....