TMI Blog2019 (2) TMI 120X X X X Extracts X X X X X X X X Extracts X X X X ..... matter. In our opinion, the Tribunal had taken all the relevant facts into consideration and the conclusions arrived at by the Tribunal were not perverse or unreasonable in confirming the order of Commissioner of Income Tax (Appeals). In view of the aforesaid facts, the case, in hand, is squarely covered by the judgment & order rendered by this Court in the case of Ram Baboo Agrawal ( 2017 (11) TMI 740 - ALLAHABAD HIGH COURT). - Decided in favour of the Revenue and against the Assessee - Income Tax Appeal No. - 183 of 2013 - - - Dated:- 29-1-2019 - Bharati Sapru And Piyush Agrawal JJ. For the Appellant : Suyash Agarwal,Suyash Agarwal For the Respondent : S.S.C. Income Tax Dep.,Gaurav Mahajan,S.S.C. ORDER Piyush Ag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se thereto, a detailed reply was filed and hearing was afforded to the applicant's authorized representative. The Assessing Authority, during the course of the scrutiny proceeding, noticed cash credit entries in the Book, which are as under:- I. Advances of purchase of silver ornaments from following parties:- (a) Ambrish Bhai Soni - ₹ 2,00,000/- (b) Krishna Verma - ₹ 1,00,000/- (c) Kuldeep Kumar Soni - ₹ 1,00,000/- II. Loan and deposits:- (a) Narayan Das - S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entioned above, were advances being given for purchase of silver ornaments, but due to hike in the price of silver, the transaction could not be materialized. So far as the loan loan given by the two persons as mentioned in the assessment order is concerned, the same was through banking channels and there was no occasion to doubt the genuineness and the credit worthiness of the same. Learned counsel for the respondents has strongly opposed the contention of the appellant and has relied upon the finding of fact recorded by the Tribunal as well as the judgment and order passed by this Court in Income Tax Appeal No. 184 of 2013 ( Ram Baboo Agrawal Vs. Commissioner of Income Tax, Agra and Another ) decided on 06.11.2017; wherein, the simil ..... X X X X Extracts X X X X X X X X Extracts X X X X
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