2011 (2) TMI 1555

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..... d is directed against Order dated 21st September, 2000 passed by the Income-Tax Appellate Tribunal, E Bench, Calcutta in I.T.A. No.2313(Cal) of 1994 relating to the assessment year 1986-87. A Division Bench of this Court formulated the following substantial questions of law for determination of this appeal :- I) Whether the Hon ble I.T.A.T. was justified in law in upholding the order of C.I .....

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..... d source of income of the assessee and called for an explanation from the assessee. The assessee, as it appears from records, explained that those amounts were received from various share applicants and the names and addresses of those persons were mentioned and their Permanent Income-Tax Account numbers, payment details, numbers of shareholding and bank transactions were disclosed. The Assessi .....

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..... elow and by the order impugned herein, the said Tribunal has affirmed the order passed by the Commissioner of Income-tax (Appeals). Being dissatisfied, the Revenue has come up with the present appeal. After hearing the learned advocate for the appellant and after going through the materials on record, we are at one with the Tribunal below as well as the Commissioner of Income-tax (Appeals) t .....

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