COMMISSIONER OF INCOME TAX Vs. RAGHVI FINANCE LTD

JUDGEMENT

(1.) The present appeal has been filed under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as "Act, 1961") challenging the order dated 3September, 2009 passed by the Income Tax Appellate Tribunal (for brevity "Tribunal") in ITA No. 973/Del/2009 for the Assessment Year 2000-2001.

(2.) Ms. Prem Lata Bansal, learned counsel for the Revenue submitted that the Tribunal had erred in law in deleting the addition of 25,05,000/-made by the Assessing Officer (in short "AO") on account of unexplained share capital under Section 68 of Act, 1961. (Signer's identity unknown) Signed by Neeraj Goel Time: 2010.09.04 17:29:27 +05'30' Reason: Location: She further submitted that the Tribunal had deleted the said addition even though the respondent-assessee had not established the identity and creditworthiness of the share applicants and genuineness of the transactions.

(3.) However, upon a perusal of the file, we find that the said addition was deleted by the Commissioner of Income Tax (Appeals) [for short