TaxTMI 
TaxTMI 
TaxTMI 
2007 (7) TMI 236
X X X X Extracts X X X X
X X X X Extracts X X X X
.... the following questions under section 256(1)/(2) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), for the opinion of this court "1. Whether, on the facts and in the circumstances of the case, the hon'ble Income-tax Appellate Tribunal was justified in law in deleting the addition of Rs. 3,38,000 made under section 68 of the Act and interest thereon of Rs. 52,493 on the ground t....
X X X X Extracts X X X X
X X X X Extracts X X X X
....d on a total income of Rs. 6,24,720 under section 143(3) vide order dated February 12, 1993. During the course of assessment proceedings, the Assessing Officer observed that the goods of the assessee were seized by the Forest Department and the Sales tax Department, which were to be released on furnishing of bank guarantee in view of an order of the hon'ble Allahabad High Court. The firm was not h....
X X X X Extracts X X X X
X X X X Extracts X X X X
....assessment order and the learned Commissioner of Income-tax (Appeals) confirmed the addition of Rs. 2,90,000 standing in the name of seven persons which were received through pay orders prepared on a single day, i.e., April 1, 1989. The Commissioner of Income-tax (Appeals) also confirmed cash credit addition of Rs. 48,000 shown in the name of Shri Vinay Kumar Chaurasiya besides deciding other issu....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ee had discharged his onus proving genuineness, nature and source of the deposits satisfactorily. 9. Now, the question remains as to whether under rule 29 of the Income- tax (Appellate Tribunal) Rules, 1963, the Tribunal could have admitted the additional evidence in terms of letter dated April 24, 1995, filed by the assessee or not ? While permitting the letter dated April 24, 1995, to be brough....