ARADHNA OIL MILLS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE decision rendered in this appeal shall govern the disposal of two other connected appeals being I. T. A. No. 35 of 2001 and I. T. A. No. 36 of 2001, as all these appeals are filed by the same asscssee and, secondly, these appeals arise out of a common order of the Income-tax Appellate Tribunal except the difference being they relate to different assessment years.

(2.) THIS is an appeal filed by an assessee under Section 260A of the Income-tax Act against an order dated February 15, 2001, passed by the Income-tax Appellate Tribunal, Indore, in I. T. A. Nos. 439, 440 and 441/Ind of 1996 arising out of the assessment years 1984-85 to 1986-87. The facts that led to the filing of these appeals need mention in brief.

(3.) THE explanation offered by the assessee did not find favour with the Assessing Officer. He was of the view that it is no explanation much less satisfactory to prove the source. Accordingly, treating this entry of Rs. 1,41,279 to be unexplained in the hands of the assessee, the Assessing Officer added this amount in the total income of the a.ssessee. THE assessee feeling aggrieved by this addition went up in appeal to the Commissioner of Income-tax (Appeals). THE Commissioner of Income-tax (Appeals) allowed the appeal and deleted the addition. This led to filing of the appeal by the Revenue before the Income-tax Appellate Tribunal. It is these appeals which were allowed by the Income-tax Appellate Tribunal by the impugned orders whereby, it set aside the order of the Commissioner of Income-tax (Appeals) and restored that of the Assessing Officer. It was held by the Income-tax Appellate Tribunal that the assessee has failed to prove the source of income in relation to the amount of Rs. 1,41,279 and hence, they have to be treated as an income from unexplained source. It is against these orders, the assessee has filed these three appeals under Section 260A of the Act.