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TMI Blog2007 (4) TMI 146X X X X Extracts X X X X X X X X Extracts X X X X ..... (1)(c) and addition uphold by tribunal but deleted penalty – Question of law arises and matter referred to HC X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. 3 lakhs someone had snatched away his bag containing the money and, therefore, he had lodged a police complaint. During the course of assessment, the Assessing Officer sought explanation regarding source of acquiring the amount of Rs. 3 lakh which was the subject matter of police complaint. The assessee explained that out of sum of Rs. 3 lakh, Rs. 2.50 lakh was received from his two sons and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earned Counsel for the assessee relying upon the judgments of the Apex Court in the case of Dr. T.A. Quereshi v. CIT, Bhopal - [2006) 287 ITR 547 ; [2007] 2 SCC 759 and CIT, v. Piara Singh reported in [1980]124 I.T.R.40 submitted that the Tribunal was not justified in sustaining the quantum addition and in any event the Tribunal ought to have allowed the said amount as business expenditure. 7. Si ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s discharged the burden of proof laid on him under Section 110 of the Indian Evidence Act, 1872? (2) Whether the Tribunal was correct in holding that the loss of Rs. 3 lakh was not incorrect in the course of the business of the assessee only on the grounds that the assessee did not carry on business in gold ornaments and disallowing the claim of the assessee in spite of the Supreme Court's decisi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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