2015 (3) TMI 841

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..... nsideration in respect thereof ought to have been accepted and the sum paid by way of cheque is the only component in the transaction. The cash payment of 52,26,000/- is not relatable to the sale in favour of the Assessee nor to any specific shop. Going by the cross examination of Kantilal Patel and the specific answer to a question by him it is evident that it is not established that the Assessee .....

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..... of a shop. The details of purchase were found by way of certain incriminating papers. The persons concerned were examined and allowed to be cross examined, which revealed the transaction and the true consideration. In such circumstances, both, the Commissioner and the Tribunal erred in law in relying upon a Judgment of the Hon'ble Supreme Court in the case of Central Bureau of Investigation ( .....

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..... e feet to the Assessee is ₹ 43,60,000/-. The cash component is stated to be received from sale of all the shops. As far as the Assessee's transaction is concerned, the cash component and payment thereof is not proved. In the circumstances, there are pure findings of fact and which cannot reappreciated and reappraised in our limited jurisdiction. Therefore, the Appeal be dismissed. 4. .....

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