2013 (5) TMI 418

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..... ammu, which deposit finds mention in the accounts of seller. The Tribunal has taken into consideration the record produced by the assessee in respect of transaction entered with copy of confirmations, PAN number, Income tax particulars and audited accounts of the lendor. Thus finding that the investment of Rs.52 lacs was duly explained by the assessee, is a finding of fact and such finding of fact .....

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..... purchase of land? ii) Whether the ITAT, Amritsar Bench, Amritsar is right in holding that the assessee has discharged her onus of proving the sources of Rs.53 lakhs when the documents relating Agreement Deed with SAR Stitchers Pvt. Ltd. were defective and that too was against the statement of assessee recorded under Section 131 of the Income Tax Act, 1961? iii) Whether the ITAT, Amritsar Benc .....

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..... The assessee filed an appeal before the learned Commissioner of Income Tax (Appeals). Learned Commissioner of Income Tax (Appeals) confirmed the addition of Rs.53 lacs made by the Assessing Officer on account of unexplained investment for purchase of land from Radha Swami Satsang Beas, Karan Ban, Jammu. However, in further appeal, the Tribunal has deleted the addition as the assessee is said to ha .....

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