RADHA RAMAN AGRAWAL Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) THE present appeal is filed by the assessee against the order dated 14.5.2001 passed by the Income Tax Appellate Tribunal, Delhi in I.T.A. No.5645/Del/1994 for the Assessment Year 1987 -88.

(2.) THE assessee has mentioned six substantial questions of law, but all are leading to the addition of Rs.3.90 lacs, which was upheld by the Tribunal.

(3.) THE brief facts of the case are that on 16.10.1986, the assessee was traveling from Delhi to Bareilly in a Fiat Car No. UTI 2455, when he reached near Rampur octorie post, the car was intercepted by the custom authorities. On the next day, the custom authorities have recorded the statement of the Driver and the assessee. In the statement, both have stated that the assessee had gone to Delhi to sell gold and the seized amount is the consideration of the said sale. But it was observed by the custom authority vide order dated 18.12.1987 that: -