2001 (8) TMI 93

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....relate to different assessment years. This is an appeal filed by an assessee under section 260A of the Income-tax Act against an order dated February 15, 2001, passed by the Income-tax Appellate Tribunal, Indore, in 1. T. A. Nos. 439, 440 and 441/lnd of 1996 arising out of the assessment years 1984-85 to 1986-87. The facts that led to the filing of these appeals need mention in brief. On July 18, 1992, a raid was carried out in the assessee's premises. In this raid operation several incriminating documents were seized which included some bank accounts and statements. Since it was noticed that none of these bank accounts and statements were reflected in the balance-sheet submitted by the assessee, a notice under section 148 was served ....

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.... held by the Income-tax Appellate Tribunal that the assessee has failed to prove the source of income in relation to the amount of Rs.1,41,279 and hence, they have to be treated as an income from unexplained source. It is against these orders, the assessee has filed these three appeals under section 260A of the Act. Heard Shri H. C. Sarda, learned counsel for the appellant on the question of admission. Assailing the correctness of the finding returned by the Income-tax Appellate Tribunal holding therein that the assessee has failed to prove the source of the amount in question, learned counsel for the appellant (assessee) urged that the finding is perverse if not held to be totally without jurisdiction. Elaborating the submission, ....