2013 (10) TMI 76

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..... ejected by the Tribunal. Assessee had failed to come up with any plausible documentary evidence to suggest that it had in fact obtained the cash vouchers in lieu of bank guarantees and also it had not explained the source of the sum of Rs.15,72,000/- which have been paid on different dates - It was quite evident that such payments were in the nature of cash transactions with its labour contrac .....

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..... 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 unaccounted investment by the Assessee or in lieu of Bank guarantee for timely completion of work? The questions of law raised in the prese .....

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..... 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 the issue as deliberated upon in the fore-going paragraphs and primarily the assessee had failed to come up with any plausible documentary ev .....

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