2007 (2) TMI 652

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..... enue is aggrieved by an order dated 31st May, 2005 passed by the Income Tax Appellate Tribunal, Delhi Bench F in ITA Nos.4053/DEl/99, 5316/D/98, 4123 and 4125/D/2000 relevant for the Assessment Year 1994-95 to 1997-98. The Revenue has essentially raised two issues before us. In so far as the first issue is concerned, that pertains to an investment of ₹ 60 lacs made by M/s Gold Mark Enterp .....

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..... nly could not be treated as undisclosed income of the Assessee. The Tribunal has also noted that the Assessee had discharged its initial burden and that share application money of ₹ 60 lacs by the same investor, that is Gold Mark Enterprises Ltd. was received for the assessment year 1996-97 and the Assessing Officer made no addition to the income of the Assessee for that year. Under these .....

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