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TMI Blog2019 (10) TMI 1130X X X X Extracts X X X X X X X X Extracts X X X X ..... towards purchase of lands or not and whether such extra amounts were received by the sellers - Tribunal was convinced that all payments were made to the land owners by the assessee by cheque and therefore the identity and genuineness of the transactions was proved - HELD THAT:- Revenue sought to contend that the finding of the Tribunal that the transactions made by the assessee were genuine, is p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - ITTA. No. 364 of 2019 - - - Dated:- 14-10-2019 - JUSTICE M. S. RAMACHANDRA RAO AND JUSTICE K. LAKSHMAN, JJ. For The Petitioner : MR B NARASIMHA SARMA ORDER: ( Per the Hon ble Sri Justice M.S.Ramachandra Rao) This Appeal is fled by the Revenue challenging the order dt.18.04.2019 in ITA.No. 489/Hyd/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roperties purchased by it are payments made towards purchase of lands or not, and (2) whether such extra amounts were received by the sellers. 4. This order of the CIT was also confirmed in appeal by the Income Tax Appellate Tribunal on 25.09.2013. 5. Thereafter, proceedings were taken up by the Assessing Officer and the Assessing Officer passed a fresh order of ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he receipts from sellers for land payments, return and computation of income, profit loss account, balance sheet, and bank statements showing the payment details; that after going through these documents, the Tribunal was convinced that all payments were made to the land owners by the assessee by cheque and therefore the identity and genuineness of the transactions was proved. It also recorded t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ove is based on appreciation of evidence and after perusing the material placed before the Tribunal by the assessee. 10. The finding of the Tribunal that payments were made by cheques by the assessee to the land owners and the identity and the genuineness of the transactions between the land owners and the assessee is proved, is a finding of fact based on appreciation of evidence a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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