COMMISSIONER OF INCOME TAX Vs. JEETA KHAN

JUDGEMENT

(1.) THE Revenue has come in appeal under Section 260A of the IT Act, 1961 against the order dt. 24th April, 2006 passed by the Tribunal in ITA No. 1167/Chd/2004. The Tribunal has rejected the appeal of the Revenue and upheld the order of the CIT dt. 31st Aug., 2004 and had set aside the order of assessment dt. 26th March, 2001 made by the AO by making addition of income to the tune of Rs. 48,000. The aforementioned amount was computed as income as the AO has refused to accept the unsecured loan contributed by various persons. The view of the Tribunal emerges from the perusal of para 15 of its order which reads as under:

(2.) A perusal of the aforementioned finding recorded by the Tribunal shows that question of fact has been determined by the Tribunal by accepting the identity of Rattan Singh who had advanced loan of Rs. 64,660 to the assessee and other persons.