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TMI Blog2018 (8) TMI 1265X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee itself. The assessee has used this name as a Private Limited company or as a proprietary concern for converting unaccounted money by depositing cash in the bank accounts of this concern and receiving funds from them. Hence, he added the amount to the income of the assessee. Held that:- No evidence being on record to suggest that the transactions of the assessee with this Private Limited ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aw by the Revenue arise out of the order dated 6th February, 2015, passed by the Income Tax Appellate Tribunal, Bench at Mumbai. 2. The Income Tax Appeal before the Tribunal was for the assessment year 2001-02. There were two issues before the Tribunal and involved in the appeal of the assessee. 3. No question of law is proposed and said to be arising from the Ground No.1 / Issue No.1. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt of M/s. Amizara Securities and Finance Pvt. Ltd. from where the drafts had been issued to the assessee. Hence his conclusion was that this is nothing, but a bogus entity formed by the assessee itself. The assessee has used this name as a Private Limited company or as a proprietary concern for converting unaccounted money by depositing cash in the bank accounts of this concern and receiving fun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee by way of drafts through the proprietary concern. 6. Thus, no evidence being on record to suggest that the transactions of the assessee with this Private Limited Company were not genuine, the additions were deleted. After this, the Tribunal found that there was no occasion for the Revenue to raise this issue. The Departmental representative could not point out any material in relation ..... X X X X Extracts X X X X X X X X Extracts X X X X
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