2008 (4) TMI 263

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....e is aggrieved by an order dated 13th 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 produce all these persons. It appears that some o....

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....nce 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 Commissioner of Income Tax v. Sophia Finance Ltd....