2019 (3) TMI 644

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....filed at the instance of assessee pertaining to Assessment Year 1991-92 to 2001-02 and is directed against the orders of Ld. Commissioner of Income Tax (Appeals)-III (in short 'Ld.CIT(A)'], Indore dated 19.05.2017 which is arising out of the order u/s 158BFA(2) of the Income Tax Act 1961(In short the 'Act') dated 19.06.2012 framed by ACIT, Circle-2(1), Indore. 2. The assessee has raised following....

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....ee got major relief from Ld. CIT(A)as well as from the Tribunal. However as regards to the seized material placed at HS-1 Page 164 to 166 relating to hundies of Rs. 50,000/- each in the name of minor son Amit, showing the amount advanced to Shri Shyamlal Arya, Finance Broker. The addition relating to these hundies of Rs. 1,50,000/- stands confirmed by the Tribunal and penalty of Rs. 90,000/-was le....