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TMI Blog2018 (9) TMI 1177X X X X Extracts X X X X X X X X Extracts X X X X ..... onation of delay. Hence, the delay in filing the appeal is condoned and we allow the application being GA No.2589 of 2008. GA No.2589 of 2008 is thus disposed of. It appears that in this matter the Tribunal has extensively dealt with the matter. The brief facts of the order so passed by the Tribunal are reproduced hereunder : "Brief facts of the case are that a search and seizure operation was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of the partners of the assessee firm and during that cross examination, Mr. Rupani averred that his earlier statement recorded on 24/25.08.2000 was given by him under duress and coercion. Mr. Rupani further submitted during such cross-examination that during recording of his statement u/s 132[4] at the time of search on 24/25.08.2000, he had produced contract notes, bills etc. in support of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... el duly supported by contract notes and bills. Further the AO summoned the brokers M/s. Mehta & Ajmera and recorded the statement of one of the partners of the stockbroker firm M/s. Mehta and Ajmera. The stockbrokers asserted that these transactions were genuine. The AO during assessment proceedings before him relied solely on the statement of 24/25.08.2000 made by Sri Rupani without taking any co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h recognized stockbroker of the Calcutta Stock Exchange and all the payments made to the stockbroker and all the payments received from stockbroker through account payee instruments, which were also filed in accordance with the assessment. It appears from the facts and materials placed before the Tribunal and after examining the same the Tribunal came to the conclusion and allowed the appeal file ..... X X X X Extracts X X X X X X X X Extracts X X X X
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