COMMISSIONER OF INCOME TAX Vs. ASHOK KUMAR JAIN

JUDGEMENT

(1.) THIS is an appeal filed by the Revenue under Section 260a of the IT Act against an order dt. 11th Aug. , 2003 passed by Tribunal in case No. IT (SS)A 3 and 4/ind/2002.

(2.) HAVING heard the learned counsel for appellant and having perused the record of the case, we are of the considered view that sine qua non for entertaining an appeal under Section 260a of IT Act namely existence of substantial question of law is not present in this appeal. In other words, we have not been able to notice any substantial question of law, which can be said to have arisen out of the order rendered by the Tribunal in its appellate jurisdiction. As a consequence, we are afraid, we cannot admit this appeal and has to dismiss in limine holding that appeal does not involve any substantial question of law.

(3.) DISPUTE essentially centres around in relation to certain additions/deletions made by AO in the total gross income of the assessee, who was being assessed for a block period 1989-90 to 1999-2000 under Section 158bc of the IT Act. It is in the course of these assessment proceedings, a question arose as to three additions which are subject-matter of the appeal, can be assessed in the hands of the assessee as his true income? Assessee had his explanation to offer in support of his contention whereas Revenue had their contention to say that it does belong to the assessee and, their family members. It is essentially this question which was gone into by the taxing authorities. To begin with, it was initially gone into, by the AO, who was making the assessment under Section 158bc of the IT Act and later on was probed by the Tribunal on facts and in the context of explanation offered by the assessee.