- (1.) Heard Shri Praveen Kumar, learned counsel for the appellant and Shri Rahul Agrawal, learned counsel for the respondent.
(2.) This appeal under Section 260-A of the Income Tax, 1961 (hereinafter referred to as the 'Act') has been filed by the department against the order of the Income Tax Appellate Tribunal dated 14.08.2009 for the assessment year 2000-01. The questions of law sought to be answered are as under: "(1) Whether the Hon'ble ITAT, Agra Bench, Agra was legally correct in the findings of learned CIT (A) and ignoring the evidence of introduction of un-accounted money amounting to Rs.1,17,79,084/- by the assessee in its bank by way of encashment of bank drafts purchased by one of the employees of its sister concern in cash in the name of alleged three purchasers? (II) Whether the Hon'ble ITAT was justified in deleting the addition of Rs.1,17,79,08/-under provisions of Section 69 on account of encashment of drafts when factum of sale to alleged purchasers is not proved?"
(3.) The assessee firm being a dealer of Tata Chemicals Ltd. engaged in trading of Soda Ash has filed return of income at Rs.34,27,312/- and assessment was completed by the AO on total income of Rs.1,52,06,400/- by making an addition of Rs. 1,17,79,084/- under section 69 of the IT Act, 1961.;