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TMI Blog2011 (3) TMI 694X X X X Extracts X X X X X X X X Extracts X X X X ..... spent by the assessee or she paid the bills of the hotel in connection with the marriage ceremonies of her daughter - Therefore, held that the Tribunal was justified in deleting the addition of Rs. 2,90,165/ Undisclosed income from other sources on loan extended by the assessee - There is no material on record nor any evidence was produced to show that the assessee as a matter of fact, earned any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ents/papers were found and seized. Thereafter, the proceedings for reassessment for the block period 1st April, 1987 to 2nd July, 1996 were initiated. The assessing officer by its order dated 9th February, 1997 made certain additions in the income of the assessee. 3. The assessee carried the matter in appeal before the Tribunal. The Tribunal by the order under appeal has allowed the appeal in pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee and the question of its taxibility there did not arise and that the assessee rightly had not include interest income in her books of account?" 5.We have heard Shri Shambhu Chopra, learned counsel for the appellant and Shri S.D. Singh, learned counsel for the respondent/ assessee. 6. A sum of Rs. 2,90,195/- was added in the income of the assessee on the ground that the said amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd valid reasons for accepting the explanation of the assessee. 9. We do not find any justification to disagree with the said approach of the Tribunal. It is therefore, held that the Tribunal was justified in deleting the addition of Rs. 2,90,165/-. 10. With regard to question Nos. 2 and 3, the assessing officer added a sum of Rs. 6,29,600/- towards the supposed interest earned by the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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