2003 (9) TMI 41

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..... d Vipin Kumar has come to the conclusion that even the documents showing the sale of jewellery were doubtful. The finding of the Tribunal being based on cogent material cannot be said to be perverse, as is sought to be pleaded by learned counsel for the petitioner. - no question of law, much less a substantial question of law, arises from the impugned order whereby tribunal has sustained the addit .....

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..... he genuineness of the said loan. Pursuant thereto, a copy of the bank account of the said Vipin Kumar, from where the cheque in favour of the assessee had been drawn, was filed. Upon recording the statement of the said creditor, the Assessing Officer came to the conclusion that the said Alagh had failed to explain the source of the cash amounts deposited by him in his account before issuing a cheq .....

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..... ibunal. By the impugned order the Tribunal has dismissed the appeal. Hence, the present appeal. Assailing the order of the Tribunal as perverse, Mr. Manjani, learned counsel for the assessee, has submitted that since the assessee had proved the identity of the creditor by producing him before the Assessing Officer and had also filed his confirmatory certificate, showing the mode and manner in whi .....

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..... , it is not defined in the said Act either. However, its connotation is well settled by judicial pronouncement. It was observed by the Supreme Court in Sir Chunilal V. Mehta and Sons Ltd. v. Century Spinning and Manufacturing Co. Ltd., AIR 1962 SC 1314, that a question of law would be a substantial question of law if it directly or indirectly affects the rights of the parties and/or there is some .....

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..... x (Appeals) on re-appraisal of the entire documentary evidence adduced by the said Vipin Kumar has come to the conclusion that even the documents showing the sale of jewellery were doubtful. The finding of the Tribunal being based on cogent material cannot be said to be perverse, as is sought to be pleaded by learned counsel for the petitioner. Applying the aforenoted tests, in our opinion, no qu .....

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