- (1.) Heard Sri Praveen Kumar, learned counsel for the revenue and Sri R.R. Agarwal, Senior Advocate assisted by Sri Amit Mahajan, learned counsel for the assessee.
(2.) Since the facts and the issue involved in all these three appeals is identical, all the appeals are being heard together and disposed of by a common order which is being passed in Income Tax Appeal No.9 of 2015, treating as a leading case.
(3.) This appeal under Section 260A of the Income Tax Act, (hereinafter referred to as the 'Act') has been filed by the department against the order of the Income Tax Appellate Tribunal, Lucknow Bench, Lucknow dated 21.08.2014 for the assessment year 2001-02. The appeal has been admitted on the following questions of law:- 1. Whether members of AOP have distinct identity vis-a-vis as its constituent firm as in the case of partners & firm u/s 184. 2. Whether the unexplained capital introduced by member of AOP can be assessed as unexplained capital of the constituent firm. 3. Whether AOP by merely providing PAN/GIR and Income Tax Return its members establish their creditworthiness and also discharge its onus u/s 68.";