2001 (7) TMI 62

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.... JAWAHAR LAL GUPTA J.-The Revenue has filed this appeal under section 260A of the Income-tax Act, 1961. It raises the following question for decision: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in confirming the deletion of addition of Rs.1,82,988 made by the Commissioner of Income-tax (Appeals) on account of income from undis....

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....ue challenged the order passed by the appellate authority. The Tribunal after consideration of the matter has found that the partners had an agricultural income of Rs.3,02,500. The income pertains to the holding which belongs to the partners and their family members in their individual capacity. The assessee-firm had shown the income "in its account books, in the capital account of the individual ....

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....we find that it has come to a firm conclusion that Bikar Singh and Baltej Singh, partners of the assessee-firm had 45 acres of land. The average income shall be Rs.4,500 per acre. On this basis it has been concluded that the partners could have contributed the amount to the account of the firm. This amount could not have been treated as the undisclosed income of the firm. No evidence has been poin....