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TMI Blog2017 (8) TMI 39X X X X Extracts X X X X X X X X Extracts X X X X ..... the claim of the assessee of carrying out independent business has been accepted. Addition on account of business receipts from Shri Rasiklal Dhariwal - ITAT deleted the addition - Held that:- The basis on which the Assessing Officer concluded that the present assessee has received amount from Rasiklal Dhariwal, that is, the statement of an accused in MOCA case, the said statement has not been confronted to the assessee to verify whether the amount was actually paid to the assessee. It is further observed that no corroborative evidence has been produced or brought on record to substantiate the fact of alleged payment. The Tribunal has also considered the statement of Mr.Ansari, the accused in MOCA case, that the transaction took place in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... concern having the same nature of business and manufacturing similar items controlled by the same proprietor ? (ii)Whether on the facts and circumstances of the case and in law, the Hon'ble Income Tax Appellate Tribunal is correct in confirming the order of the Ld.CIT(A) in allowing deduction u/s.80IB without appreciating the factual evidence of bogus and fabricated purchases and sale with two arms of the same business of the assessee ? (iii) Whether on the facts and circumstances of the case and in law, the Hon'ble Income Tax Appellate Tribunal is correct in allowing the assessee's claim of deduction u/s.80IB on interest income ignoring the fact that the interest income was not derived from the manufacturing activity of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earned counsel accedes that for the earlier assessment year the said question is decided against the Revenue and the appeal filed before this court is dismissed. 5 The learned counsel further submits that it was erroneous on the part of the Tribunal to direct the Assessing Officer to delete the addition of ₹ 11 Crore made on account of business receipts from Shri Rasiklal Dhariwal. It failed to consider that the confessional statement recorded under the Maharashtra Control of Organized Crime Act 1999, is an admissible evidence under Section 18 of the said Act. 6 Mr.Mistry, the learned senior advocate for the respondent submits that for the earlier assessment year, the Assessing Officer has accepted the claim of the assessee of c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no.2 is concerned, infact, the said issue did not arise. Still, the Tribunal has considered the genuineness of these transactions and upon consideration of the transactions, it has observed that such transactions are genuine transactions. The said finding is a finding of fact. As far as Question No.3 is concerned, in the earlier assessment year, it is already decided in favour of the assessee and the appeal filed against the said order is dismissed by this court. 11 With regard to the Question No.4, it has been observed by the Tribunal that the basis on which the Assessing Officer concluded that the present assessee has received amount from Rasiklal Dhariwal, that is, the statement of an accused in MOCA case, the said statement has not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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