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TMI Blog2006 (1) TMI 53X X X X Extracts X X X X X X X X Extracts X X X X ..... court was delivered by K. RAVIRAJA PANDIAN J. 1. The Revenue not satisfied with the order of the Tribunal confirming the order of the Commissioner of Income-tax (Appeals) deleting a sum of Rs. 1,28,27,860 from the taxable income of the assessee, filed the present appeal by framing the following substantial questions of law: "1. Whether, on the facts and circumstances of the case, the Tribunal was right in holding that the assessee had no unexplained investments with the association of persons by name M. G. Enterprises to the tune of about Rs. 1.28 crores ? 2. Whether, on the facts and circumstances of the case, the Tribunal was right in deleting the addition of unexplained investments of about Rs. 1.28 crores by relying solely on an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by way of appeal and cross-appeals to the Tribunal. The Tribunal disposed of the appeal and cross-appeals by remitting the matter back to the Commissioner of Income-tax (Appeals) for fresh hearing and disposal with the direction to examine the association of persons, viz., M.G. Enterprises in respect of the peak investment in a sum of Rs. 1,28,27,860. On remittal the Commissioner of Income-tax (Appeals) deleted the abovesaid addition on the ground that it was admitted by the Assessing Officer himself that the relevant documents had been seized from the premises of M.G. Enterprises or its officers and the M.G. Enterprises has filed solemn affidavit that it has not received the said amount of Rs. 1.28 crores from the assessee. Based on the ab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . That written submission has been taken note of by the Commissioner of Income-tax (Appeals). The Commissioner of Income-tax (Appeals) has further considered the sworn affidavit of M.G. Enterprises and had come to the conclusion that M.G. Enterprises alone is liable to explain the source of the said sum of Rs. 1.28 crores and the addition must be deleted at the hands of the assessee. This aspect of the matter has been reaffirmed by the Tribunal by saying that it is the prima fade duty of M/s. M.G. Enterprises to explain the exact nature of the entries made in the seized documents and it is the duty of the Assessing Officer to ascertain from M/s M.G. Enterprises and its officers on the true nature of the entries found in the documents seized ..... X X X X Extracts X X X X X X X X Extracts X X X X
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