SARASWATI TRACTORS CORPORATION Vs. CIT

JUDGEMENT

(1.) THIS appeal under section 260A of the Income -tax Act, 1961 (for short "the Act"), has been filed by the assessee against the order dated 16 -7 -2003, passed by the Income -tax Appellate Tribunal, Chandigarh Bench (A), Chandigarh (in short "the Tribunal") in I. T. A. No. 1248/Chandi/98 relating to the assessment year 1994 -95.

(2.) THE assessee has claimed the following substantial question of law for''' 2 determination by this court :

(3.) THOUGH according to the assessee, all the aforesaid cash credits were''' received by it through account payees drafts, and many other proofs in support of that fact were also produced before the Assessing Officer, but the Assessing Officer did not accept the genuineness of cash credits and made addition of an amount of Rs. 95,000, noticed above, vide order dated 25 -2 -1997, annexure A2. The appeal carried by the assessee against the said addition was allowed by the Commissioner of Income -tax (Appeals), (for short "CIT(A)") by order dated 18 -9 -1998, annexure A7, whereby the addition of RS. 95,000 was deleted.