9911796707
TMI Blog2013 (10) TMI 76X X X X Extracts X X X X X X X X Extracts X X X X ..... urt Heard learned counsel for the parties. 2. The questions of law raised in the present appeal read thus:- I. Whether the Tribunal held that the vouchers found in the premises were part of the payment made by the Assessee which was part of 30 lakhs paid to the sub-contractor or not? II. Whether the vouchers found in the course of search are considered to be unaccount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... easons recorded therein, in particular, the concluding paragraph of the impugned order. The principal contention urged before us is that the vouchers found in the premises were prepared in lieu of a Bank guarantee has also been rightly rejected by the Tribunal. The concluding paragraph of the impugned order reads thus:- "In an overall consideration of the facts and circumstances of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me up with any credible evidence to explain the corresponding Source of income to incur such payments and the same had not also been recorded in its books of account. We are, therefore, of the firm view that the assessee's case falls within the domain of the provisions of s.69C of the Act and, thus, the AO was justified in assessing the said sum of Rs.15,72,000/- in the hands of the assessee. It i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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