2008 (4) TMI 263

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....respondent. JUDGMENT 1. The Revenue is aggrieved by an order dated 13^th June, 2007 passed by the Income Tax Appellate Tribunal, Delhi Bench "C", New Delhi (the Tribunal) in I.T.A. No. 229/Del/2005 relevant for the Assessment Year 2001-02. 2. The Assessee had received an amount of Rs.51 lakhs as share application money from 33 persons. The Assessing Officer required the Assessee to produc....

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....of Income Tax (Appeals) had accepted the existence of the applicants but did not accept the genuineness of the transaction, subject matter of the inquiry. 5. While setting aside the order of the Commissioner of Income Tax (Appeals), the Tribunal relied upon two decisions of this Court, namely, Commissioner of Income Tax v. Stellar Investment Ltd., [1991] 192 ITR 287 and a Full Bench decision in....