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TMI Blog2017 (6) TMI 405X X X X Extracts X X X X X X X X Extracts X X X X ..... rwal, learned counsel for the appellant and Sri Ashish Agarwal, learned counsel for the respondents. The appeal of the assessee relates to the Assessment Year 2005-06. The assesee had filed return of the relevant year showing her income of Rs. 98,998/-. The Assessing Officer issued a show cause notice dated 5.12.2007 under Section 144(1) of the Income Tax Act, 1961 (hereinafter referred to as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome disclosed by the assessee, so as to compute the tax payable by her. The aforesaid addition was confirmed by the Commissioner of Income Tax (Appeals) as well as by the Tribunal. The order of the Tribunal dated 24.9.2010 is under challenge in this appeal and the question of law that has been raised is as follows: "Whether the Tribunal is justified in confirming the addition of Rs. 10,07,749 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xplained investments which are not recorded in the books of accounts and where the explanation about the nature of the source of investment is not found to be satisfactory. Under Section 69 of the Act, the assessee is only required to furnish explanation with regard to the source of investment failing which such investment is liable to be added to the income of the assessee. The assessee in resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d jewellery inasmuch as there appeared to be no good source for her to acquire such huge amount of jewellery, more particularly, when she had six children to raise and all of whom were married by her and secondly as it was not possible for her to gift the entire amount to the assessee. In other words, the authorities basically found the explanation of the assessee to be unsatisfactory as she coul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... opinion that the Tribunal was not justified in not accepting the explanation regarding the investment made by her in the property inasmuch as the authorities could not have gone into the question of source of the source and that too by converting the proceedings regarding addition under Section 68 of 'the Act' into that under Section 69 of 'the Act' without proper notice to the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X
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