2017 (1) TMI 1011

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..... ained. So far as M/s Stalwarts Realtors Pvt. Ltd. and the amount of ₹ 50 lacs added to its account was concerned, the ITAT concluded that since the amount was shown by M/s Stalwarts Realtors Pvt. Ltd. and in fact accounted for, the question of it being bogus or suspect in the hands of the assessee did not arise. No substantial question of law - Decided against revenue - ITA 803/2016 - - .....

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..... re proceeding, of the third parties out of the 66 names found therein. Another amount of ₹ 50 lacs was added on account of suspect payment attributed to M/s Stalwarts Realtors Pvt. Ltd. The assessee, however, succeeded in the appeal before the Income Tax Appellate Tribunal (ITAT). As to the amount of ₹ 47.02 lacs it was firstly observed that the material was seized in respect of a t .....

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..... n ITA No. 2466/Del/2013 dated 13.06.2016. It was, therefore, concluded that since the amount was shown by M/s Stalwarts Realtors Pvt. Ltd. and in fact accounted for, the question of it being bogus or suspect in the hands of the assessee did not arise. This Court has carefully considered the submissions on behalf of the Revenue and the grounds urged in support of the appeal, and is of the opinio .....

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