2009 (1) TMI 843 - HC - Income Tax

Summary

Issues Involved: Rejection of misc. application arising out of ITA No.3527/M/2003 by the Income Tax Appellate Tribunal.

Summary:
The petitioner filed a return of income for the A.Y. 1995-96 u/s.139(1) of the Income Tax Act, 1961, declaring total income of Rs. 59,050. Subsequently, the petitioner received three gifts credited to the capital account, and the business premises were surveyed u/s.133 A. The Assessing Officer issued notice u/s. 148, and despite filing documents to substantiate the gifts, an addition u/s.68 was made. The petitioner appealed to the Tribunal, which dismissed the appeal. The petitioner then filed M.A.No.730/M/07 for rectification of mistakes, which was also dismissed. The petitioner's main grievances included lack of notice regarding certain judgments relied upon by the Tribunal and failure to consider the donor's statement. The High Court found merit in the petitioner's submissions and set aside the order, remanding the application to the Tribunal for fresh consideration after hearing the parties. The High Court clarified that it had not expressed any opinion on the merits of the case, directing the Tribunal to independently hear and dispose of the matter. The rule was made absolute with no order as to costs, and the petition was disposed of accordingly.