2007 (7) TMI 701

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..... eard. 2. In this Appeal filed under Section 260-A of the Income Tax Act, 1961, the appellant-assessee has formulated the following questions of law from the order of the Tribunal dated 10th November, 2003 passed in I.T.A. No.6488/Mum/97. 1. Whether in the facts and in the circumstances of the case, and in law, the Tribunal erred in treating the loan of ₹ 25,000/- received from Shri D.K. .....

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..... f the remand report of the Assessing Officer. On further appeal filed by the assessee, the Tribunal partly allowed the appeal and confirmed the additions of ₹ 25,000/- each received by the assessee from two cash creditors namely Shri D.K. Sanghvi and M/s.Aqua Trade mainly on the ground that the said two creditors were not assessed to income tax. 6. In our opinion, the fact that the two cas .....

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