2008 (12) TMI 32

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....I of 2008 : Delay in re-filing the appeal is condoned. Main Appeal : 1. Revenue has preferred this appeal under Section 260A of the Income Tax Act, 1961 against the order dated 28.02.2007 of the Income Tax Appellate Tribunal, Chandigarh Bench "B", Chandigarh passed in ITA No.459/ Chandi/2005, for the Assessment Year 1998-99, proposing to raise following substantial question of law :- "1. Whethe....

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.... under :- "7. Another aspect of the matter is the finding by the CIT (Appeals) that the onus was on the assessee to have produced Mr. Pardeep Kumar Gupta, The Director of RKE in the course of assessment proceedings. In our view, this finding is misplaced having regard to the entire conspectus of facts and circumstances of the impugned case.  In the instant case, as we have noticed, the Asses....

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....ied out with respect to RKE and therefore, it was entirely the responsibility of the revenue to have carried out verification and culled out material contrary to the position canvassed by the assessee.  There is no clinching material or evidence against the assessee. The confirmation from M/s RKE was before the Assessing Officer. The said concern has not been found to be bogus or non-existent....

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....the case of Shri Anil Talwar, Chandigarh. In the case of Shri Anil Talwar, the Tribunal in ITA No.621/Chandi/2002 vide order dated 16.09.2005 has accepted the sale transaction as genuine. The learned counsel appearing before us has vehemently contended that the factual matrix in the instant case stands on similar footing to that in the case of Shri Anil Talwar (supra). On this aspect, we find that....