COMMISSIONER OF INCOME-TAX Vs. PARIMAL KANTI CHANDA

JUDGEMENT

(1.) HEARD Mr. U. Bhuyan, learned Counsel appearing on behalf of the appellant, and Dr. A.K. Saraf, learned Counsel for the respondent.

(2.) THE appeal was admitted for hearing on the following substantial questions of law - -

(3.) THE respondent, Shri Parimal Kanti Chanda, hereinafter referred to as the assessee, filed his return of income for the assessment year 1998 -99 and during the course of hearing, the assessee made certain disclosures as provided under the law and brought in another ten numbers of bank accounts. The Assessing Officer, however, took the view that there are two other bank accounts†"one in the name of Mr. P. Sangmong and the other in the name of M/s. Nagaland General Supply and Construction Agency, Dimapur. The assessee filed his show cause and, thereafter, the Assessing Officer added Rs. 23 lakhs to the income of the assessee.