SATISH KUMAR 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 10-9-2004, passed by the Income Tax Appellate Tribunal, Chandigarh Bench "B", Chandigarh in short "the Tribunal" in I. T. A. No. 395/Chandi/2000, for the assessment year 1990-91.

(2.) This appeal was admitted for determination of the following substantial question of law:

(3.) The facts necessary for disposal of the appeal are that Satish Kumar, Assessee, had been earning Rs. 15,000 to Rs. 24,000 per year from the business of arranging trucks for carrying of coal to the destination of the purchasing parties and also labour for loading and unloading of the coal besides supervising that process. It came to the notice of the department that the Assessee had remitted three demand drafts made from the State Bank of India to one Krishan Kumar Sharma. An enquiry was made from the Assessee who initially denied that he knew Krishan Kumar Sharma but later on when his statement was recorded on 14-2-1996, he admitted that there was Rs. 3,50,000 to Krishan Kumar Sharma of Barka Khana (Bihar) and also stated that the money belonged to the said Krishan Kumar. The assessing officer, thus completed the original assessment at Rs. 3,80,500 and made an addition for unexplained investment of Rs. 3,50,000 for the purchase of drafts from the bank. Being aggrieved thereby the Assessee filed appeal before the Commissioner (Appeals) (in short "Commissioner (Appeals)"). The Commissioner (Appeals) by order dated 21-2-1997, (annexure A-2) set aside the addition made and remitted the matter back to the assessing officer to examine de novo after affording proper and adequate opportunity to the Assessee.