COMMISSIONER OF INCOME TAX Vs. DWARKADHISH FINANCIAL SERVICES

JUDGEMENT

(1.) CM 3834 of 2005 For the reasons stated in the application which are supported by an affidavit, we condone the delay in refiling the appeal.

(2.) CM is disposed of. ITA 225 of 2005

(3.) THE challenge in this appeal under s. 260A of the IT Act (hereinafter referred to as Act) is to the order passed by the (a) That the AO had no jurisdiction and power to look into and investigate the source. In other words, investigate the identity of the shareholders. (b) The onus was on the assessee to establish that the transaction of the share application money was a genuine transaction.