TMI Blog2019 (9) TMI 1238X X X X Extracts X X X X X X X X Extracts X X X X ..... it strange that if on 16.5.2013, the appellant decided to change his method of saving and put his money in the bank, why he did not put the entire savings in the bank and why he retained a sum of ₹ 2,40,000/- with him in cash. Chiman Lal is admittedly not an income tax assessee, thereby strengthening the view that not only he is not a rich man but he is barely able to make the ends meet. - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome Tax Appellate Tribunal ('Tribunal' for short) upholding the action of the authorities in invoking Section 68 of the Income Tax Act, 1961 and thereby adding an amount of ₹ 5,40,000/- to the income of the assessee. 2. The case of the assessee was that his employee Chiman Lal had advanced a sum of ₹ 5,40,000/- by way of cheque (which was duly returned with int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rgued that once Chiman Lal had appeared and given his own affidavit and the money was paid to the assessee-appellant by cheque by banking transaction and was returned through banking transaction, the authorities below erred in deciding against the appellant. He has, thus, emanated the following question of law:- Whether in the facts and circumstances of the case, the action for in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that not only he is not a rich man but he is barely able to make the ends meet. 5. Learned counsel for the appellant has relied upon Commissioner of Income Tax versus Deen Dayal Choudhary (2017) 148 DTR Judgments . In that case, three persons had given credit of ₹ 25.00 lakhs, 45 lakhs and 20 lakhs, respectively to that assessee. All these three persons were income tax asse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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