- (1.) THIS appeal by the revenue is directed against the judgment of the Income Tax Appellate Tribunal, Jodhpur Bench, Jodhpur dated 09.01.2004 whereby the ITAT decided two appeals and connected cross-objections pertaining to the assessment years 1994-95 & 1995-96 relating to the same assessee (the respondent herein). The present appeal relates to assessment year 1994-95 (referable to Appeal No.371/JDP/99 before the ITAT) and was admitted on 16.08.2007 on the following substantial questions of law:- "1) Whether on the facts and circumstances of the case as well as in the law, the learned Income Tax Appellate Tribunal was right in holding the NRI gifts as genuine ignoring the fact that the assessee failed to prove the capacity of the donor who is stranger and gift was not made on any social occasion? 2) Whether on the facts and in the circumstances of the case and in law, the learned tribunal was right in confirming the order passed by the learned CIT(A) deleting the addition of Rs.40,000/- made by the A.O. treating the gifts as arranged by the assessee by utilizing his undisclosed income?"
(2.) THE learned counsel for the appellant has frankly pointed out that the other appeal pertaining to the assessment year 1995-96, arising out of Appeal No.372/JDP/99 before the ITAT, was registered in this Court as Income Tax Appeal No.57/2006 and was admitted on essentially the similar nature substantial questions of law; and the said appeal in this Court (No.57/2006) was heard and dismissed by a co-ordinate Bench on 16.05.2008. The learned counsel for the appellant-revenue frankly submits that the issue involved in the present appeal stands covered against the revenue in view of the decision in the said Income Tax Appeal No.57/2006. In view of the submissions so made, this appeal stands dismissed following the order dated 16.05.2008 in Income Tax Appeal No.57/2006 and in the same terms.;