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TMI Blog2018 (8) TMI 1426X X X X Extracts X X X X X X X X Extracts X X X X ..... s of law: "[I] Undisclosed investment on account of Umiya Land. (i) Whether on facts the case and in law, Appellate Tribunal is correct in allowing credit of undisclosed income already detected in search u/s 132 of Act and subsequently declared by Bachubhai and his son Shri Ajit B Chauhan Rs. 33.16 lacs in respect of Umiya Land. (ii) Whether on facts the case and in law, Appellate Tribunal is correct in allowing credit of undisclosed income declared by the Shyam Group before Settlement Commission although the applications of Shyam Group except M/s Shyam Organizers were abated by the Settlement Commission u/s.245HA of the Act. [II] Undisclosed Investment in Land at Nava Naroda (Karnavati): (i) Whether on facts the case and in l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Whether on facts the case and in law, Appellate Tribunal is correct in allowing credit of undisclosed income already detected in search u/s 132 of Act and subsequently declared under VDIS 97 by Shri Asvinbhai B. Patel Rs. 26,85,075/and Shri Bachhubhai Rs. 21,68,171/in respect of Vastral land, to the assessee? (iii) Whether on facts the case and in law, Appellate Tribunal is correct in allowing credit of undisclosed income detected in search u/s 132 of Act and subsequently declared by the assessee before Settlement Commission although the application of the assessee was abated by the Settlement Commission u/s245HA of the Act? (iv) Whether on facts the case and in law, Appellate Tribunal is correct in relying on a bald affidavit of Shri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion and subsequently declared by the assessee before Settlement Commission although the application of the assessee was abated by the Settlement Commission u/s 245HA of the Act? (e) Unexplained expenditure/Payments Whether on facts the case and in law, Appellate Tribunal is correct in granting the relief in the case of assessee based on block assessment of Shri Kantibhai Patel when appeal against the block assessment order of Shri Kantibhai is still pending before Appellate Tribunal vide appeal no.IT(SS)A No. 142/A/2011? (f) Addition on account of Cash Payments to Shri Kantibhai Rs. 16 lacs & Rs. 13 lacs. Whether on facts the case and in law, Appellate Tribunal is correct in granting the relief of Rs. 29,00,000/in the case of as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income invested in lands has already been deleted ? (j) Addition on account of cash payment of Rs. 45,03,516/in A Y 199798 and also of Rs. 75,34,840/in A Y 199798. (i) Whether on facts the case and in law, Appellate Tribunal is correct in allowing credit of addition made on account of unexplained investment on lands which was already deleted in very same order, it would not tantamount to double relief to the assessee against the addition on account of cash payment of Rs. 45,03,516/to Shri Kantibhai in A Y 199798 and also of Rs. 75,34,840/to Shri Ashwinbhai in A Y 199798, whether these findings are perverse or not ? (ii) Whether on facts the case and in law, relief of Rs. 45,03,516/in A Y 199798 and also of Rs. 75,34,840/in A Y 199 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be asked to explain 50% of the total investment of Rs. 59,64,993/and not the full amount. This question is therefore not considered. 6. Question( c) pertains to a very small sum of Rs. 4 lakhs. Only on this ground, we do not entertain the same. Likewise, question( d) also pertains to a very small sum and is therefore not considered. 7. In respect of question( e), we notice that the amount in question is already taxed in hand of Kantibhai Patel. The Tribunal therefore did not correctly accept the Revenue's contention in the present case. 8. Remaining questions( f), (g), (h), (i) and (j) are all fact based. We have perused the orders passed by the Commissioner of Income Tax (Appeals) and the Tribunal. Some of the findings are concurren ..... X X X X Extracts X X X X X X X X Extracts X X X X
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