9911796707
TMI Blog2010 (9) TMI 135X X X X Extracts X X X X X X X X Extracts X X X X ..... ary information supported with documents about the transactions and parties - It is also an undisputed fact that the assesses had paid tax, as directed by the department, while accepting their declaration made under VDIS, 1997 - no substantial question of law arises - present appeals being bereft of merit, are dismissed. - 1300/2010, 1307/2010, 1301/2010 & 1306/2010 - - - Dated:- 7-9-2010 - MANMOHAN, J. For the Appellant: Mr. Abhishek Maratha with Ms. Anshul Sharma, Advocates For the Respondent: Ms. Rani Kiyala, Advocate MANMOHAN, J: CM No.15510/2010 in ITA 1300/2010 CM No.15517/2010 in ITA 1307/2010 CM No.15511/2010 in ITA 1301/2010 CM No.15515/2010 in ITA 1306/2010 Accordingly, applications stand disposed of. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made additions (of Rs.17,450,552/- in A.Y.1999-2000, Rs.65,24,953/- in A.Y. 2000-2001 in the case of Shri Mithilesh Kumar Tripathi and Rs.16,36,470/- in AY 1999-2000 and Rs.67,53,047/- in AY 2000-2001 in the case of Smt. Seema Tripathi w/o Sh. Mithilesh Kumar Tripathi) on account of bogus cash credits. 4. The respondents-assesses preferred an appeal before the Commissioner of Income Tax [in short, "CIT(A)"] against the assessment order. The CIT(A) allowed the appeals preferred by the respondents-assessees. 5. The appeals filed by the revenue were subsequently dismissed by the Tribunal. Hence, the present appeals. 6. Mr. Abhishek Maratha, learned counsel for revenue submitted that the Tribunal had erred in law in deleting the additions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ainst the claimed sales as well as their full addresses. The assesses had also produced the buyers' Income-tax returns for the relevant years in which the profits on sale of jewellery shown in respective returns were accepted by the department. The sale considerations were also paid by them to the assesses through account payee cheques. Thus in our view, the assesses had furnished all the necessary information supported with documents about the transactions and parties which could have been expected from a prudent seller to establish the genuineness of the claimed sales. Not only that, the proprietors of both the said concerns in response to summons u/s 131 issued to them by the AO in their reply to the AO had affirmed the claimed sale of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
