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TMI Blog2014 (2) TMI 1078X X X X Extracts X X X X X X X X Extracts X X X X ..... documents produced and has clearly narrated the source of income for the purpose of the said investment - The view of the appellate authority had been confirmed by the Tribunal as well – The validity of the documents relied upon by the assessing officer had been considered in great detail and the first appellate authority had narrated the availability of evidence for arriving at the conclusions with reference to the undisclosed income alleged to have been made by the assessee - thus, there is no need to take a different opinion – no substantial question of law arises from the appeal – Decided against Revenue. - - - - - Dated:- 4-2-2014 - Dr. Manjula Chellur And A. M. Shaffique,JJ. JUDGMENT Shaffique, J. This is an appeal f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceived from Sri. N.C. Thomas as final settlement of IBP petrol pump. 3. The assessee preferred an appeal before the Commissioner of Income-Tax (Appeals), Kochi. The appellate authority deleted all these additions and the undisclosed income for the block period was reduced to Rs. 54,500/-. The revenue preferred an appeal before the Tribunal and the Tribunal initially passed an ex parte order determining the undisclosed income as Rs.17,76,400/-. The assessee preferred an appeal before this Court as I.T.A. No. 191/2010 and by judgment dated 11.6.2010, this Court having set aside the order passed by the Tribunal, remitted back the matter to the Tribunal for fresh consideration. Pursuant to the same, the Tribunal revised the undisclosed incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with law? 4. Whether, on the facts and in the circumstances of the case,- a) the Tribunal is right in law in confirming the order of the CIT(a) who has entertained the additional evidence produced by the assessee for the first time without compliance of Rule 46A (3) of the Income-tax Rules; b) if the answer to the above question is in the affirmative are not the orders of CIT (A) and the ITAT on the issue vitiated and non est? c) is not the interference with the unaccounted investment, wrong and unjustified? 5. Whether the Tribunal is right in law in disregarding the document (KPU-A 84) seized at the time of search and will not the same prove the case of the Revenue? 6. The Tribunal is right in law in interfering with the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsider the aforesaid addition of undisclosed income. The Tribunal also concurred with the aforesaid view. 6. The learned standing counsel, however, strongly relies upon the certificate issued by M/s. High Rise contractors in order to contend that in the absence of any other material to indicate otherwise, the said certificate has to be taken into consideration and it is thereafter for the assessee to prove that he had not carried out any such work. But, both the authorities have expressed doubt regarding the sufficiency of the said document as prima facie materialand it is after verifying the statement of accounts, day book and ledger that they have formed an opinion that the certificate alone was not enough to mulct such a liability for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fore no substantial question of law arises in the case. 8. Another item of undisclosed investment is with reference to an amount of Rs. 40 lakhs as invested in IBP petrol pump. The appellate authority found that the assessee could explain Rs. 31,70,502/- lakhs and the unexplained investment was only Rs. 54,498/-. To arrive at the aforesaid conclusion, the appellate authority has considered all the documents produced and has clearly narrated the source of income for the purpose of the said investment. This view of the appellate authority had been confirmed by the Tribunal as well and therefore we do not think that a different opinion is possible on the ground that the said finding is either perverse or illegal. 9. With reference to the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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