THE PRINCIPAL COMMISSIONER OF INCOME TAX, vs. SHRI SHAILENDRA KUMAR GUPTA,

The appeals are dismissed

Bench: SANJEEV PRAKASH SHARMA,SHUBHA MEHTA

invest money or give loan would certainly seek return or income as consideration. These facts are not adverted to and as noticed below are true and correct. They are undoubtedly relevant and material facts for ascertaining the creditworthiness and genuineness of the transactions. 23. The contention that the Revenue must have evidence to show circulation of money from the assessee

MANDA BUILDERS vs. I.T.O.WARD-21,BIKANER

Bench: INDRAJIT MAHANTY,PUSHPENDRA SINGH BHATI

unexplained’ investment. 7. It must be noted that the above addition was made by the Assessing Officer (AO) after accepting the explanation of the Appellant Assessee for the sum of Rs.4,02,000/- shown as investment. On appeal by the Appellant the Commissioner of Income Tax (Appeals) [CIT(A)] further the deleted an addition of Rs.2,40,000/- thereby sustaining