1990 (1) TMI 27

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....of the following questions of law to this court : "(1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was correct in law in deleting the addition made by the Income-tax Officer on the basis of conflicting statements made by Shri K. I. Suri, Shri M. K. Suri, and Shri Sher Singh recorded on March 23, 1979, April 2, 1979, and May 18, 1979, and without....

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....n the name of Krishnan Lal Prahlad Rai Saraf and Shri M. K. Suri, respectively, on March 21, 1979, and March 26, 1979. These cash credits related to the year 1979-80. The Income-tax Officer examined Shri M. K. Suri and came to the conclusion that the cash credits were not genuine and he added those amounts in the hands of the respondent. An appeal was filed before the Commissioner of income-tax (A....