9911796707
TMI Blog2002 (8) TMI 20X X X X Extracts X X X X X X X X Extracts X X X X ..... rred to us by the Tribunal for our opinion in the affirmative, i.e., in favour of the Revenue and against the assessee. - - - - - Dated:- 1-8-2002 - Judge(s) : Y. R. MEENA., SHASHI KANT SHARMA. JUDGMENT On an application filed under section 256(1) of the Income-tax Act, 1961, the Tribunal has referred the following question for our opinion: "Whether, on the facts and circumstances of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner also found that the firm is not a genuine one and confirmed the view taken by the Income-tax Officer. In an appeal filed before the Income-tax Appellate Tribunal, Jaipur, the Tribunal has also confirmed the views taken by the Appellate Assistant Commissioner and the Income-tax Officer. Mr. Sharma, learned counsel for the assessee, submits that if we read the statement of Smt. Mee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rm is not a genuine one. In para. (2) of the order passed by the Tribunal, the Tribunal has considered the facts and after considering the decision in the case of Mahavir Industrial Works v. CIT [1984] 149 ITR 539 (MP) and also in the case of Ganga Cut Piece Centre v. CIT [1982] 137 ITR 274 (MP), the Tribunal has confirmed the view taken by the Appellate Assistant Commissioner that the firm is not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no. The firm had shown the payment of interest to Mrs. Meena Ramchand. But when the question was put to her whether she had received any amount of interest, her answer was that she did not receive any amount of interest on the deposited amount with the firm. Even in the cross-examinations made by learned counsel for the assessee, when a question was put to her whether the partnership deed had be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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