2012 (3) TMI 715

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....ne for Opponent(s) : 1, ORAL ORDER (Per : HONOURABLE THE ACTING CHIEF JUSTICE MR.BHASKAR BHATTACHARYA) This Appeal under Section 260A of the Income Tax Act, 1961 is at the instance of the Revenue and is directed against an order dated 10th August 2010 passed by the Income Tax Appellate Tribunal, Rajkot Bench, Rajkot in I.T.A. No.333/Rjt/2008 for the Assessment Year 2005- 06, by which the Tri....

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....ing Officer. The Assessing Officer, instead of verifying from the Assessing Officer of M/s.G.M.P.L. whether the transaction in question is shown by the said company, decided to disbelieve the aforesaid transaction on the question of genuineness and creditworthiness of the depositor. On appeal, the Commissioner of Income Tax (Appeals) and the Tribunal below, however, have set-aside the said findin....