COMMISSIONER OF INCOME-TAX Vs. MEHROTRA BROTHERS

JUDGEMENT

(1.) THIS is an appeal under Section 260a of the Income-tax Act, 1961. At the outset we may mention that when this appeal was presented no question of law was framed by the appellant. Later on, two questions of law have been framed. They read as under :

(2.) TO appreciate the aforesaid questions of law which are urged to be substantial questions of law, we have perused the order passed by the Commissioner of Income-tax (Appeals) as well as that of the Income-tax Appellate Tribunal. The Tribunal in paragraph 10 of the order dwelt upon the facts and came to hold as under :

(3.) THE decisions of the Patna High Court in the case of CIT v. Ram Prasad Ram Bhagat [1987] 163 ITR 202; Addl. CIT v. Bahri Brothers (P.) Ltd. [1985] 154 ITR 244, the Allahabad High Court in the case of Sundar Lal Jain v. CIT [1979] 117 ITR 316 ; Shankar Industries v. CIT [1978] 114 ITR 689 (Cal) and the Madhya Pradesh High Court in the case of CIT v. Shiv Shakti Timbers [1998] 229 ITR 505 ; CIT v. Shanti Swarup [2002] 255 ITR 655 (P and H); CIT v. Ram Narain Goel [1997] 224 ITR 180 (Pandh); Instrumed (India) International v. ITO [1999] 63 TTJ 191 (ITAT) (Delhi) assist the claim of the assessee. The assessee has explained satisfactorily the cash credits in the books of account of the firm and discharged the burden. The Department has not brought out material or evidence to rebut the same. As such the cash credits are not the income of the firm. "