TMI Blog2011 (10) TMI 33X X X X Extracts X X X X X X X X Extracts X X X X ..... nd creditworthiness of the creditor and the genuineness of the transaction. - The questions of law, as framed, therefore, do not arise for consideration of the Court. - The income was rightly added by the Tribunal to the income of the assessee. - 115 of 2002 - - - Dated:- 10-10-2011 - Sunil Ambwani, Kashi Nath Pandey, JJ. Petitioner Counsel :- Siddharth Pathak,R.S. Agarwal Responden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he name of Sri Anand Narain Mani and the CIT (A) was not justified in deleting the addition of Rs.1 lakh. The Assessing Officer has made addition of Rs.1 lakh under Section 69 of the Income- Tax Act as unexplained investment in the new machinery because out of sum of Rs.9,30,000/- utilised for purchase of machinery, the assessee was not able to explain the genuineness of the source of loan of Rs.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in Mani, the Income Tax Officer observed as follows:- "As already stated above, it is clear that inspite of best efforts made by Inspector and notice server the assessee could not be traced out nor the counsel was able to locate the assessee, as such it is held that the return has been filed by a person who wants to accommodate M/s Nav Jyoti Eye Hospital where the deposit of Rs.1,00,000/- was ..... X X X X Extracts X X X X X X X X Extracts X X X X
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