2009 (10) TMI 388

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..... al was a pure finding of fact. Dismissing the appeal. - 1389 of 2008 - - - Dated:- 29-10-2009 - A.K. SIKRI and SIDDHARTH MRIDUL JJ. Sanjeev Sabharwal for the appellant. P.N. Monga with Manu Monga for the respondent. JUDGMENT 1. The Income-tax Appellate Tribunal (hereinafter referred to as "the Tribunal"), has arrived at a finding of fact, in the facts situation appearing on r .....

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..... cie the statements or figures given therein would show how much the cost of the asset to the assessee is. But, if circumstances exist showing that a fictitious price has been put on the asset or there is fraud or collusion between the vendor and the assessee and there has been inflation or deflation of value for ulterior purposes it is open to the income-tax authorities to refuse to accept the pri .....

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..... e had been put in the invoice or there was fraud or collusion between the vendor and the assessee and there had been inflation or deflation of value for ulterior purposes. The Assessing Officer has not brought the case in any of these exceptions. 3. Therefore, it was a pure finding of fact arrived at by the Tribunal, no question of law arises. This appeal is accordingly dismissed. - - TaxTM .....

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