S. 68 – AO need not establish that money come from assessee’s coffers

HIGH COURT OF DELHI Commissioner of Income-tax versus Independent Media (P.) Ltd. S. RAVINDRA BHAT AND R.V. EASWAR, JJ. IT APPEAL NO. 456 OF 2011 JULY 20, 2012 JUDGMENT R.V. Easwar, J.  This is an appeal by the Revenue filed before this Court under Section 260A of the Income Tax Act, 1961 (‘Act’ for short). It is directed against the order of the Income Tax Appellate Tribunal (‘Tribunal’ for short) dated 11.03.2010 passed in ITA No.470/Del/2009. 2. The following substantial question of law is framed:- “Whether the Tribunal is right in law in rem...