2019 (2) TMI 120

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sment Year 2007-08. The present appeal was admitted by this Court on 03.10.2018 on the following questions of law:- "(i) Whether on the facts and circumstances of the case, the ITAT while deciding the appeal was right in not considering with due care all the materials facts and record its finding on the contention raised by the appellant in light of the evidences adduced, its order does not suffer from manifest infirmity? (ii) Whether the ITAT was right confirming addition of Rs. 4,00,000/- towards advances and Rs. 3,00,000/- towards loan totalling Rs. 7,00,000/- under section 68 of the Act, when the onus was discharge by the appellant by submitting conformity letters, indentity and credit worthiness of the creditors be....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....14.12.2009, the appellant preferred an appeal before the Commissioner of Income Tax (Appeals), Agra, who, by its order dated 09.01.2012, confirmed the order of the assessment. Still feeling aggrieved by the order of the Commissioner of Income Tax (Appeals), Agra, the appellant preferred appeal before the Tribunal. Before the Tribunal also, the assessee could not discharge the burden of genuineness of the transaction and credit worthiness of the creditor. Hence, the Tribunal has dismissed the appeal of the appellant and confirmed the order of the authorities below by the impugned order. Hence, the present appeal. We have heard Shri Suyash Agarwal, learned counsel for the appellant and Shri Gaurav Mahajan, learned counsel for the respon....