Law:

Section:

Section 143, read with section 260A, of the Income-tax Act, 1961 - Assessment - Additions to income - Assessment years 1986-87 to 1996-97 - Tribunal deleted addition of Rs. 5 lakhs, made on account of cars held by assessee in names of other parties - On elaborate discussion, Tribunal found that department had failed to produce any evidence that concerned vehicles were owned and possessed by assessee except that names of vehicles were written on back page of certain records - Tribunal held that on such material, it could not be concluded that vehicles were held benami by assessee - Whether since finding recorded by Tribunal was a finding of fact and no substantial question of law arose, appeal was liable to be dismissed - Held, yes CASE REFERRED TO Chuharmal v. CIT [1988] 172 ITR 250/ 38 Taxman 190 (SC) [Para 3] Sundeep Bhandawat for the Appellant. ORDER 1. We have heard Mr. Sundeep Bhandawat learned counsel for the Revenue. 2. The only contention raised is that the Tribunal has committed error in deleting an addition of Rs. 5,00,000 on account of cars held by the assessee in the name of other parties. On elaborate discussion the Tribunal has found that…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492