2017 (12) TMI 815

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..... i, Adv ORDER S. Ravindra Bhat, J. ( Oral ) 1. The assessee's appeal under Section 260A of the Income Tax Act, 1961 (hereafter referred to as 'the Act') characterizes the order of the Income Tax Appellate Tribunal (ITAT), which upheld the order of the Appellate Commissioner, as perverse. The assessee - for A.Y. 2007-08, faced addition of Rs. 1,34,584/-, under Section 68 of the Act. This was base .....

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..... on was never afforded to the assessee and the creditor had been examined in its absence. It was also urged that in similar instances in the past, greater amounts were advanced by the same creditor, but the AO did not raise any objection. 3. This Court is of the opinion that given the finality to the quantum proceedings which fixed the liability upon the income of Rs. 1,34,584/- and the nature of .....

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