BHANUVIJAYSINGH M VAGHELA Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) The appellant-assessee, being aggrieved by the order of Income Tax Appellate Tribunal dated 9.1.2009, has preferred the present Appeal under section 260-A of the Income Tax Act, 1961, (hereinafter referred to as "the Act") proposing the following questions of law for determination of this Court:

(2.) To briefly summarize the facts -

(3.) As can be noted from the record, during the search of residential premise of Shri Hitesh R.Shah, various books of accounts and other documents were seized, one of them was a loose paper marked at annexure A-1. On the basis thereof, an addition was made by the Assessing Officer to the tune of Rs. 30,16,000/- in the income of the present appellant vide assessment order dtd. 30.03.2000. This was done on the ground that Shri Hitesh Shah and late father of present appellant had jointly signed the said document. Statement of Shri Hitesh Shah when recovered u/s. 132(4) of the I.T.Act, that revealed that he received the impugned amount from the present appellant and further revealed that the same reflected the liability he owed to the appellant.