TMI Blog2008 (8) TMI 17X X X X Extracts X X X X X X X X Extracts X X X X ..... ely on the basis of surmises – in similar issue revenue appeal against deletion of addition by tribunal was dismissed by HC – in view of the same, impugned appeal of revenue is liable to be dismissed - 606/2008 - - - Dated:- 5-8-2008 - Advocates who appeared in this case: For the Appellant : Ms Prem Lata Bansal For the Respondent : Mr Prakash Kumar CORAM:- HON'BLE MR JUSTICE BADAR DU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Wells Fargo Bank were the funds of Mohd. Shaikh, Khursheed Ahmed and Mrs. Dina Shah. The appellant therefore has discharged the initial burden to show that the investments in the bank account were not made by him. There is nothing contrary on record to controvert the appellant's submission that the funds were contributed by the aforesaid foreign nationals. The affidavit duly notarized of these ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and proceedings in respect of her were also initiated by the revenue. The assessee sought to explain the investment by stating that the same were deposits advanced by three US citizens. The affidavits of the said three US citizens had also been filed by the assessee before the Assessing Officer. Those affidavits were sent by the Assessing Officer for verification through the Foreign Tax Division. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he said order dated 15.12.2006, in the case of Smt. Poonam Rani Singh, was not accepted by the revenue and an appeal being ITA No.99/2008 had been filed before this court. That appeal was dismissed by an order dated 19.02.2008 wherein the court observed that in view of the inter-governmental exchange which resulted in a report from the IRS Department of the American Government to the Foreign Tax D ..... X X X X Extracts X X X X X X X X Extracts X X X X
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