2019 (1) TMI 153

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..... assessed material found, as a result of search to the fact that the deposits were undisclosed by the Assessee and this was assessed only on the basis of disclosure made by the Assessee. Furthermore, the Tribunal noted that it is not on the basis of any evidence and investigation conducted by the Department and it was not unearthed by the act of the Department. Therefore, the Tribunal held that there was no justification to interfere with the order passed by the CIT(A). The entire dispute revolves on the factual matrix, which was considered by the CIT(A) and decided in favour of the Assessee and once again re-appreciated by the Tribunal and concluded in favour of the Assessee and in this appeal, we are not expected to re-appreciate the fa .....

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..... note of the letter furnished by Assessee before the Assessing Officer offering the entire deposits from the villagers of Rasipuram as income of the Assessee and that in the offer letter, it was clearly stated that the offer was made only to relieve the genuine depositors from the legal hassles of taxation and this was offered on the condition that the penalty and prosecution should not be initiated. The CIT(A) further noted that the Assessee made such a categorical statement as a package and the offer was made to avoid protracted litigation and as a matter of good gesture to keep up his honour among the people of his own village and the Assessing Officer accepted the offer that there were no deposits which were undisclosed income of the Ass .....

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..... to keep up the Assessee among the people of his own village. Further, the Tribunal noted that there was no assessed material found, as a result of search to the fact that the deposits were undisclosed by the Assessee and this was assessed only on the basis of disclosure made by the Assessee. Furthermore, the Tribunal noted that it is not on the basis of any evidence and investigation conducted by the Department and it was not unearthed by the act of the Department. Therefore, the Tribunal held that there was no justification to interfere with the order passed by the CIT(A). 7.On a perusal of the orders passed by the CIT(A) as well as the Tribunal, we find that the entire dispute revolves on the factual matrix, which was considered by the .....

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