BELA JUNEJA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) A search and seizure operation was carried out on 22nd Sept., 2005 under S. 132 of the IT Act, 1961 at the premises of Shri Pravin Juneja at E-47, Greater Kailash-II, New Delhi and during the course of said search documents relating to sale and purchase of property were found. In those documents transaction had been carried out in the name of his wife Smt. Bela Juneja/appellant.

(2.) NOTICE under S. 153A/153C of the IT Act was issued calling upon the appellant/assessee to furnish return. In response thereto, she furnished return of her income declaring her total income of Rs. 2,83,546. The documents which were seized included, (i) balance sheet and statement of capital accounts of Smt. Bela Juneja and Pravin Juneja as on 31st March, 2002, (ii) receipt dt. 18th Oct., 2004 issued by S.C. Sharma of Rs. 1 lakh received in cash from Smt. Bela Juneja.

(3.) THE CIT(A) dismissed the appeal of the assessee. While doing so, the CIT(A) gave following reasons :