COMMISSIONER OF INCOME TAX Vs. MANJITSINGH R BAJWA

JUDGEMENT

(1.) REVENUE has proposed following questions of law for determination of this Court in the present Tax Appeal, which arises out of the order dated 13th February 2009 passed by the Income Tax Appellate Tribunal, Rajkot Bench (hereinafter referred to as "the Tribunal").

(2.) TO briefly state the facts: The assessee alongwith his uncle Shri Ajitsingh Bajwa and one Shri Mahesh R. Joshi, an employee of Bajwa Transport Carriers were traveling in Honda City car. The police intercepted the vehicle at Amer, Jaipur on 23rd March 1999. The cash amounting Rs 10,30,000/ - was recovered from their possession and statement of the respondent was recorded under section 132(4) of the Act. Shri Ajitsingh Bajwa claimed the amount. The assessee had stated that he is a partner of M/s K.N Soni with 50% shares, however, there was no partnership deed executed. Certain loose papers were seized and it was also noted that the present respondent had not filed return of income nor had he complied with the statutory notices issued. The Assessing Officer, on the basis of the record, estimated the total income for the block period starting from A.Y 1989 -90 to 23rd March 1999 at Rs 11,70,000/ - on challenging the same in a Appeal before the CIT(A), the CIT(A) deleted the addition by giving elaborate reasons. The Revenue challenged the same before the Tribunal which confirmed the findings of the CIT(A) vide its order dated 13th February 2009. The impugned order is in challenge in the present Appeal by proposing aforementioned question of law.

(3.) LEARNED counsel Shri Manish Bhatt has been heard for on behalf of revenue and the respondent has chosen to appear in person, pursuant to the notice issued by us on dated 28th September 2011. After having heard both the sides at length, this Tax Appeal is being decided as hereinafter.