2007 (2) TMI 685 - HC - Income Tax

Concealment of income - search conducted on a train by the police authorities - employee of the appellant was returning from Amritsar by train and were found in the possession cash in a search by Railway Police - According to the Appellant, he had gone to Amritsar to make some purchases of gold but the transaction did not materialise - Held that - The Assessing Officer was of the view that the amount represented sales of gold made by the Appellant on earlier occasions and that the sale proceeds were being carried back to Delhi. The departmental authorities have considered the statements of some persons such as Arun Kumar, Neeraj Kumar and Kimti Lal, who were examined by the Department as well as some other material that has been placed on record. The view taken by all the authorities below is plausible and is not perverse in any manner. The Appellant was disbelieved for adequate reasons. We do not think that any substantial question of law arises for our consideration. It is merely a matter decided on the evidence on record.

Summary

The Delhi High Court dismissed the appeal of the Assessee regarding possession of cash amounting to Rs. 30,00,000, stating that the evidence supported the view that the cash represented sales of gold made by the Appellant. The court found no substantial question of law and upheld the decision of the departmental authorities.