CHAND PARKASH VIJ Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE assessee has preferred this appeal under s. 260A of the IT Act, 1961 (for short, "the Act"), against the order dt. assessee has proposed several substantial questions of law, but at the time of arguments, Mr. Mukhi, learned counsel for the assessee, pressed question Nos. I and VI in para 13 of the appeal, which are as under :

(2.) THE assessee was assessed for the asst. yr. 1998 -99. After assessment, the AO received information from the Asstt. 1997, in cash in his savings bank account. On receiving the said information, notice for reassessment under s. 148 of the Act was given to the assessee, proposing to treat the amount of the said cash deposit in the bank as undisclosed income. Finally, the AO made reassessment, treating the said amount as undisclosed income. The order of the AO has been affirmed in appeal by the CIT(A) as well as by the Tribunal. The Tribunal, inter alia, recorded the following findings :

(3.) WE have heard learned counsel for the assessee.