D.b. Income Tax Appeal v. Adl.comm.of Income Tax

HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH ATJAIPUR D.B. Income Tax Appeal No. 140 / 2004Aklank Kumar Bagda ----Appellant Versus Adl.Comm.Of Income Tax ----Respondent _____________________________________________________ For Appellant(s) : Mr. Prakhul Khurana for Mr. Sanjay JhanwarFor Respondent(s) : Ms. Archana for Mr. Anil Mehta _____________________________________________________ HON'BLE MR. JUSTICE K.S. JHAVERI HON'BLE MR. JUSTICE VINIT KUMAR MATHURJudgment / Order 24/01/2017 1.By way of this appeal, the appellant has assailed thejudgment & order of the Tribunal whereby the Tribunal hasdismissed the appeal and confirmed the order of CIT(A). 2.This Court while admitting the matter framed the following question:- “Under the facts and circumstances of the casewhether ld. ITAT was justified in sustaining thepenalty of Rs. 1,25,000/- u/s 271D of theIncome Tax Act, 1961 in respect of alleged cashfound with the assessee belonging to otherperson.” 3.In view of the concurrent finding and fact that in substancethe original assessment was upheld, in view of the matter, we see no reason for interference. The issue is answered in favour of the department and against the assessee. The appeal stands dismissed. (VINIT KUMAR MATHUR)J. (K.S. JHAVERI)J. A.Sharma/13