2004 (6) TMI 580

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..... ls) - VII dated 27-11-2003 in the case of the assessee in relation to the assessment order under section 143(3) for the assessment year 1997-98. 2. In this appeal, the assessee has disputed the addition of Rs. 93,000 under section 68 of the I.T. Act. The facts of the case leading to this appeal briefly are that the assessee claimed to have received three gifts of Rs. 31,000 each from Shri Inde .....

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..... before the Tribunal. 3. During the course of hearing before me, the ld. Authorised Representative of the assessee argued that the assessee had not maintained any books of account and the impugned amount had not appeared as cash credit in the books of account and therefore, the provisions of section 68 did not apply. The ld. Authorised Representative of the assessee, however, admitted that the .....

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