2017 (5) TMI 170

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..... me Tax Act, 1961 or not? - Held that: - similar question in respect of A.Y. 2001-02 arisen from same judgment was considered by this Court in Income Tax Appeal No. 142 of 2007 and has been answered in favor of Revenue and against the Assessee - appeal allowed - decided in favor of appellant. - Income Tax Appeal No. 141 of 2007 - - - Dated:- 26-4-2017 - Hon'ble Sudhir Agarwal And Hon'ble .....

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..... d on following two substantial question of law, which reads as under: I. Whether on the fact and in the circumstances of the case the Income Tax Appellate Tribunal further erred in law in not appreciating the provisions of section 142A of the Act introduced with retrospective effect from 15.11.1972 correctly as there are no preconditions stipulated in this section, e.g., that Assessing Office .....

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..... e assessee has not contravened the provisions of section 13(1)(c) and 13(3) of the Income Tax Act, 1961 even though it was conclusively proved by the Assessing Officer that the loan was given without interest to the person referred to in section 13(3) which is in contravention to the provisions of section 13(2)(a) of the Income Tax Act, 1961. 5. Learned counsel for appellant, at the outset st .....

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