2001 (10) TMI 68

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..... 1961. It maintains that in the circumstances of this case the additions made by the impugned orders are unsustainable. A few facts may be noticed. The appeal relates to the assessment year 1990-91. The assessee filed its return declaring an income of Rs.84,630. The Assessing Officer after examination of the evidence made the following additions: (1) The claim of the assessee for Rs.1,000 on ac .....

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..... ceived loans from Smt. Gurdev Kaur and Mr. Amarjit Singh. Smt. Gurdev Kaur had a land and was, thus, in a position to advance a loan of Rs.23,000. Similarly, even Amarjit Singh had made the payment by cheque. In this situation, counsel submits, the action of the authorities in sustaining the additions cannot be upheld. The matter has been considered at length by the Tribunal. It has been found .....

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