2001 (10) TMI 68 - HC - Income Tax

Summary

Issues involved: Appeal u/s 260A of the Income-tax Act, 1961 challenging additions made by the Assessing Officer under section 68 of the Act for the assessment year 1990-91.

Additions Made by Assessing Officer:
- Disallowed claim of Rs.1,000 for expenses.
- Addition of Rs.23,000 as income from undisclosed sources.
- Another addition of Rs.35,000 u/s 68 of the Act.

Appeal Process:
- Assessee appealed to Commissioner of Income-tax (Appeals) who accepted Rs.1,000 expenses claim but confirmed remaining additions.
- Second appeal to Income-tax Appellate Tribunal resulted in partial relief: Rs.15,000 out of Rs.23,000 accepted, Rs.35,000 addition dismissed.

Arguments and Tribunal's Findings:
- Assessee received loans from Smt. Gurdev Kaur and Mr. Amarjit Singh.
- Tribunal found balance in Smt. Gurdev Kaur's account supported Rs.15,000 claim but upheld Rs.8,000 addition.
- Regarding Amarjit Singh, Tribunal found the deposit of Rs.35,000 was not a genuine transaction, sustaining the addition.

Court Decision:
- Court satisfied that Tribunal's decision was based on evidence and no substantial question of law arose.
- No grounds for interference u/s 260A of the Act found.
- Appeal dismissed in limine.