NARESH K. PAHUJA Vs. INCOME TAX APPELLATE TRIBUNAL

JUDGEMENT

(1.) Rule. Rule returnable forthwith. Respondents waive service. By consent of the parties, petition is taken up for final hearing forthwith.

(2.) The petitioner is aggrieved by the rejection of his miscellaneous application arising out of ITA No. 3527/Mum/2003 by the Income-tax Appellate Tribunal, 'J' Bench, Mumbai ('the Tribunal' for short) on 10th July, 2007 [reported as Naresh K. Pahuja V/s. Dy. CIT ].

(3.) The petitioner had filed his return of income for the asst. yr. 1995-96 under Section 139(1) of the IT Act, 1961 ('the Act' for short) declaring total income of Rs. 59,050 which was processed and accepted under Section 143(1)(a) of the Act without any adjustment. During the year under consideration the petitioner had received three gifts. The said gifts were credited to the petitioner's capital account. The business premises of the petitioner were subsequently surveyed under Section 133A and the statements of the petitioner and donor Mr. Kishan Punjabi were recorded.