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TMI Blog2005 (1) TMI 11X X X X Extracts X X X X X X X X Extracts X X X X ..... Appellate Tribunal (for short hereinafter refrred to as the Tribunal) in I. T. A. No. 340/Ind./99. This appeal was admitted for final hearing by passing the following order on December 4, 2000 "4-12-2000 Shri RL Jain, L/c for the Revenue. Admit. Notice. (Bhawani Singh) (Shambhoo Singh) Chief Justice Judge." Heard Shri R. L. Jain, learned senior counsel with Ku. V. Mandlik, 2 learned counsel for the Revenue. None for the assessee. 3 Under section 260A of the Act, the appeal can be admitted for final hearing only when it involves any substantial question of law. Sub-section (3) then obliges the High Court to formulate substantial question of law which in the opinion of the High Court is involved. Sub-section (4) then ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e entry regarding shortage of one M.G. for Rs. 41,84,501. 10. The Assessing Officer made the assessment. However, the aforementioned infirmities were noticed by the Commissioner in the order of assessment passed by the Assessing Officer. It is for this reason, the Commissioner took shelter of section 263 powers and finding these defects / infirmities to be prejudicial to the interests of the Revenue issued notice to the assessee and called upon to show as to why the order of assessment to the extent mentioned supra, i.e., in relation to the aforesaid entries be not set aside. The assessee ified reply and explained as to why the entries referred be upheld. The Commissioner did not accept the explanation of the assessee and passed the ord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee, the same found acceptance to the Tribunal in part. This court in further appeal cannot go into the same with a view to find out whether the reasoning assigned by the Tribunal in accepting the explanation is right or not. The Tribunal had the jurisdiction to accept and it did so. It is only when the appellant is able to point out extreme perversity in the factual finding. Such as it being totally de hors the provisions of the Act, or any law, or explanation offered, a substantial question of law emerges out of such finding. Such does not appear to be the case. 13 We have gone through the impugned order of the Tribunal. We find that the Tribunal examined the explanation of the assessee in respect of each entry and gave their ..... X X X X Extracts X X X X X X X X Extracts X X X X
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