2015 (4) TMI 58

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..... ibunal - Held that:- if the books of accounts and other documents relevant for this purpose in terms of the Tribunal's conclusion establish that the assessing officer's conclusion that the purchases are bogus cannot be sustained, then, the sustainence to the extent of 10 / 11% by the Commissioner of Income Tax (Appeals) was also not justified and is unsustainable, that is only because it w .....

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..... For the Appellants : Mr N C Mohanty Ms Padma Divakar For the Respondents : Mr F V Irani Mr A K Jasani ORDER P. C. 1. We have heard Mr.Mohanty, learned counsel appearing on behalf of the revenue in support of this appeal. 2. The revenue is aggrieved by the concurrent findings recorded by the Commissioner of Income Tax (Appeals) and the Tribunal. The Tribunal in the im .....

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..... ses substantial question of law. 6. We are unable to agree with Mr.Mohanty for more than one reason. In the order of the Commissioner of Income Tax (Appeals), we find that there are four grounds referred. The assessing officer had erred in adding a sum of ₹ 8,98,36,614/- as undisclosed income of the assessee for the block period on the alleged ground that the purchases of raw materials an .....

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..... 7. Now, this as well has been deleted by the Tribunal and the reasons for the same are to be found in paragraphs 35 and 36 of the impugned order. The Tribunal has concluded that all the disputed purchases have already been reflected in the regular books of accounts. The Commissioner, therefore, undertook this exercise and established that the books indeed reflected such purchases. Therefore, if .....

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..... hs 37 to 40 of the impugned order would raise any substantial question of law. The Tribunal's conclusions are consistent with all the documents and their contents. This is nothing but an attempt to seek re-appreciation and re-appraisal of such factual conclusion. That is not permissible in law in our limited jurisdiction, moreso, when we do not find any perversity in the order of the Tribunal. .....

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