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TMI Blog2014 (5) TMI 856X X X X Extracts X X X X X X X X Extracts X X X X ..... ntended that he Tribunal had deleted various deletions made by the AO without appreciating the evidence on record – revenue has not been able to point out any specific instance which indicates that the decision of the Tribunal is perverse or not informed by reason. Deletion of household assets and unexplained sum – Held that:- The Tribunal found that the explanation given by the assessee with regard to the household items as well as with respect to the bank deposits in the account of M/s Bhatnagar Design were not satisfactory - the Tribunal concluded that the ad hoc addition of ₹ 10 lacs made on account of bogus expenses as well as the amount accepted by the assessee as undisclosed income were sufficient to include the - the findin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n undisclosed income of Rs.50 lacs. 3. The Assessing Officer computed the assessee s undisclosed income at Rs.1,64,75,600/-, which was in addition to the sum of Rs.50 lacs declared by the assessee in its return. Aggrieved by the said assessment order, the assessee filed an appeal before the CIT (Appeals). The appeal of the assessee was partly allowed and certain additions made by the Assessing Officer were deleted. Aggrieved by the same, both the assessee and the Revenue preferred appeals before the Tribunal which were disposed of by the common order dated 08.04.2008 (impugned order). 4. The Revenue has submitted that the following questions of law arise from the decision of the Tribunal in ITA No. 175/Del/2005:- (a) Whether on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 400/- on the ground that it was covered by the undisclosed income of the assessee on account of telescoping? (c) Whether the Ld. ITAT erred in law and on merits in holding that the additions are adjustable on account of telescoping? (d) Whether order passed by the Ld. ITAT is perverse in law and on merits? 6. It is submitted by the learned counsel for the Revenue that the Tribunal erred in remanding the claim of the assessee with respect to sums aggregating Rs.28,44,500/-, to the Assessing Officer. It is submitted that the said amount was added as undisclosed income by the Assessing Officer as various seized documents indicated that payments aggregating Rs.28,44,500/- were made by the assessee to various persons. The Assessing Off ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee that the amounts noted on the documents reflected contributions to Virendragram project was required to be verified and the same could be done by examining the entries in relation to the Virendragram project. We find no infirmity with this reasoning. 7. The second question of law proposed by the Revenue is with respect to deletion of certain additions made by the Assessing Officer on account of unexplained expenditure. The CIT (Appeals) had deleted the additions on the ground that the adhoc addition of Rs.10 lacs and the declared undisclosed income of Rs.50 lacs would cover the additions on account of undisclosed expenditure. While additions aggregating Rs.41,62,747/- were liable to be made on account of the documents found during the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T (Appeals) and remanded the matter to the Assessing Officer to consider it afresh after hearing the assessee. Indisputably, it was necessary to hear the assessee while examining the manner in which the entries were to be read. We are unable to find any flaw in the decision of the Tribunal. 9. The learned counsel for the Revenue has submitted that the Tribunal had deleted various deletions made by the Assessing Officer without appreciating the evidence on record. However, the counsel has been unable to point out any specific instance which indicates that the decision of the Tribunal is perverse or not informed by reason. In this view, we are unable to appreciate as to how a question of law arises from the findings arrived at by the Tribu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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