Dismissing the appeal of the revenue the Court held that, the amount credited in bank vis-\u00e0-vis transactions\u00a0 on behalf of clients. Assessee claimed that he had entered into the transaction not on his own behalf but on behalf of Mr. Chaturvedi who in turn was acting on behalf of\u00a0 Shri Maharaj Investment (\u2018SMI\u2019), The assessee was at the highest used as a conduit by the other parties and did not himself substantially gain from these transactions. Accordingly the addition\u00a0 in the hands of assessee was not sustainable.\u00a0 (AY.1992-93)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 69A : Income from undisclosed sources\u2013No evidence to show that cheques stated to have been issued by the assessee-Deletion of addition is held to be justified.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9523","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2tB","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=9523"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9523\/revisions"}],"predecessor-version":[{"id":12939,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9523\/revisions\/12939"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=9523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=9523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=9523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}