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2013 (10) TMI 1073 - AT - Income TaxUndisclosed investment u/s 69B of the Income Tax Act – bank account in question belong to other person - Held that:- Shri Francis Joseph has only implicated the partnership firm, i.e., the deposits were made by the assessee from out of the income relating to the partnership firm - Statement given by Shri Francis Joseph, which is placed in the paper book filed by the assessee - It is well settled proposition of law that the income is required to be assessed in the hands of right person – In the present case, assessee is the right person to be assessed – Reliance has been placed upon the judgment in the case ITO Vs. Ch. Atchiah reported in [1995 (12) TMI 1 - SUPREME Court]. - Decided against the revenue.
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