CIT Vs. ANJU BHAYANA

JUDGEMENT

(1.) The revenue has approached this Court by filing the instant appeal under Section 260A of the Income Tax Act, 1961 (for brevity 'the Act') challenging order dated 10-11-2004 passed by the Income Tax Appellate Tribunal, New Delhi Bench 'E' (for brevity 'the Tribunal') in ITA No. IT/S&S/A. No. 28/DEL./2000 for the block period 1988-89 to 1998-99. It has been claimed that the following substantive questions of law would arise for our determination:

(2.) Whether on the facts and in the circumstances of the case, the learned ITAT was right in law in confirming the order of the Commisssioner (Appeals) in deleting the addition of Rs. 50,000 in assessment year 1997-98 made by the assessing officer on the basis of page Nos. 1 to 14 of seized document No. A-10 containing applications addressed to HUDA, affidavit, agreement, original conveyance deed and general power of attorney in respect of Plot No. 188, Sector 11-12 , HUDA, Panipat given by Smt. Shakuntala Aggarwal in favour of Sh. Ashok Kumar deceased when it is evident that the aforesaid property was purchased by Sh. Ashok Kumar (deceased) on the basis of Power of Attorney;

(3.) Whether on the facts and in the circumstances of the case, the learned ITAT was right in law in confirming the order of the Commissoner (Appeals) in deleting the addition of Rs. 4,90,699 in block period (1988-89 to 1997-98) made by the assessing officer on the basis of facts gathered during search operations under Section 132 of the Act at the residential premises of the assessee inter alia, including payment of heavy amounts towards LIC premia, educational expenses, and telephone bills by the assessee whereas showing very nominal amount of household withdrawals, as indicated by the document No. A-II seized during search operations.