ITO 1(1)(1)(5), Agra vs. Shanti Constructions, Agra
In the result, the appeal filed by revenue is dismissed
ITA 289/AGR/2017[2012-13]Status: DisposedITAT Agra16 May 2019AY 2012-13
Bench: Shri Sudhanshu Srivastava & Dr. Mitha Lal Meenaincome Tax Officer, Ward,1(1)(5), Vs.. M/S Shanti Constructions, Ug-13, Aayakar Bhawan, Agra Shanti Madhuvan Plaza, Delhi Gate, Agra (Appellant) (Pan: Aaufs3185N) (Respondent)
For Appellant: Sh. Pradeep K. Sahgal, Adv. & Sh. Utsav Sahgal, C.AFor Respondent: Shri Sunil Bajpai CIT DR
Section 143(3)Section 145(3)
…. INCOME TAX OFFICER (1982) 14 TTJ 489 (Del.) 25 HELD :- The opening balance of the capital which was the closing balance of the capital in earlier business could not be treated as income from undisclosed source. 4. JAGTAR SINGH Vs. INCOME TAX OFFICER (1999) 65 TTJ 476 (Del) HELD :- Where assessee's statement of affairs for past years are available on records genuineness of brought forward capital cannot be doubted. It is prayed that your Honour kindly delete the arbitrary and unjust addition of Rs.50,10,000 treating advances received from customers as bogus.” 21. The Ld.AR further filed a paper book (APB pages…
