Hon'ble Subhash Chandra Nigam,J.
The Tribunal vide order dated 7th October, 2005 decided the appeals of Subhash Chandra Gupta and Raj Kumar Gupta, against which, two appeals bearing I.T.A. No. 165 of 2006, Commissioner of Income Tax Vs. Subhash Chandra Gupta and I.T.A. No. (81) of 2006, Commissioner of Income Tax (Central), Kanpur Vs. Raj Kumar Gupta were filed. A certified copy of the Tribunal's order has been filed in I.T.A. No. 165 of 2006. Therefore, the filing of a certified copy of the Tribunal's order in this appeal, may be dispensed with.
The application is allowed.
Order Date :- 11.1.2010 MK/ Hon'ble Rajes Kumar,J.
Hon'ble Subhash Chandra Nigam,J.
The Tribunal vide order dated 7th October, 2005 decided the appeals of Subhash Chandra Gupta and Raj Kumar Gupta raising a common question. Income Tax Appeal No. 165 of 2006, 'Commissioner of Income Tax Vs. Subhash Chandra Gupta' has been admitted on the following question: "Whether on the facts and in the circumstances of the case, the Hon'ble Income Tax Appellate Tribunal was justified in law in deleting the addition of Rs. 8,65,566/- made by the A.O. On account of unexplained investment in property No. 7/93-A, Tilak Nagar, Kanpur on the basis of report of the Departmental Valuer, ignoring the latest legal position as a result of insertion of section 142-A by Finance Act (No.2) 2004 with retrospective effect from 15th November, 1972, which has the effect of nullifying the decision of Hon'ble Supreme Court of India in the case of Smt. Amiya Bala Paul reported in 262 ITR 407 (SC)."
The present appeal is also admitted on the aforesaid question. Connect with I.T.A. No. 165 of 2006.
Order Date :- 11.1.2010 MK/