9911796707
TMI Blog2001 (7) TMI 62X X X X Extracts X X X X X X X X Extracts X X X X ..... It raises the following question for decision: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in confirming the deletion of addition of Rs.1,82,988 made by the Commissioner of Income-tax (Appeals) on account of income from undisclosed sources introduced by the firm in the shape of exaggerated income from agriculture in the hands o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r has found that the partners had an agricultural income of Rs.3,02,500. The income pertains to the holding which belongs to the partners and their family members in their individual capacity. The assessee-firm had shown the income "in its account books, in the capital account of the individual partners-Shri Biker Singh and Shri Baltej Singh, etc." On this basis, the Tribunal concluded that the ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e-firm had 45 acres of land. The average income shall be Rs.4,500 per acre. On this basis it has been concluded that the partners could have contributed the amount to the account of the firm. This amount could not have been treated as the undisclosed income of the firm. No evidence has been pointed out which may show that the findings of fact recorded by the Tribunal are untenable. Mr. Sawhney ..... X X X X Extracts X X X X X X X X Extracts X X X X
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