2017 (4) TMI 1435

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..... While admitting this appeal by the Revenue, against the impugned order dated 7th October 2015 of the Income Tax Appellate Tribunal (ITAT) in ITA No. 218/Del/2015 for the Assessment Year (AY) 2011-12, this Court by order dated 24th November 2016 framed the following question of law for consideration: "Did the Income Tax Appellate Tribunal (ITAT) fall into error in interfering with Commissioner....

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....rt the Assessee could not produce any document pertaining to the so-called business activity. 4. In the appeal by the Assessee, the ITAT by the impugned order while setting aforementioned order of the CIT, came to the following conclusions:- i. That the Assessee submitted the details of all his bank accounts as well as cash deposits; ii. The details were submitted by Assessee in the course....

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....order dated 1st March, 2012 in ITA 179/2011) 7. The ITAT has in the impugned order noted "the AO inquired from the assessee about the amount of cash deposited during the relevant financial period and after considering the reply of the assessee wherein the assessee stated that he had lost his books of accounts and other records, then the AO had no alternative but to estimate the business incom....