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TMI Blog2021 (9) TMI 301X X X X Extracts X X X X X X X X Extracts X X X X ..... s could not be furnished, and that apart, the Tribunal has recorded that the assessee had admitted that income details are available with the assessee and in the absence of any details, the Tribunal rightly held that it is impossible to believe the theory that the assessee had received the payments from its old Sundry Debtors after a gap of two to three years, and accordingly, the appeal was dismissed - No substantial question of law. - T.C.A. No.301 of 2010 - - - Dated:- 6-8-2021 - HON'BLE MR. JUSTICE T.S. SIVAGNANAM AND HON'BLE MR. JUSTICE SATHI KUMAR SUKUMARA KURUP For Appellant : Mr. T. Vasudevan For Respondent : Mrs. V. Pushpa Standing Counsel J U D G M E N T (Judgment was delivered by T.S. SIVAGNANAM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder Section 142(1) of the Act calling upon the assessee to furnish the details of the source of payment of a sum of ₹ 60,63,000/- by cash to M/s.Aditya Securities Ltd., and another amount of ₹ 9,50,000/- by Demand Draft to the very same company. The assessee, by letter dated 19.11.2007, confirmed the purchase of shares amounting to ₹ 2,00,34,125/- through the said company for the year ended 31.03.2002 and also ₹ 60,63,000/- paid to the said company by cash on various dates and another amount of ₹ 9,50,000/- paid by Demand Draft. This was a candid admission made by the assessee before the Assessing Officer, which has not been disputed even before us. When the assessee was questioned as regards the nature and so ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... producing necessary documents. Resultantly, the appeal filed was dismissed by the CIT(A) by order dated 03.07.2008. Aggrieved by such order, the assessee preferred an appeal to the Tribunal. 6. The Tribunal, in our considered view, had considered the factual matrix and taken note of all the grounds urged by the assessee and concurred with the factual findings recorded by the Assessing Officer as well as the CIT(A) that the assessee could not furnish any details regarding the payments received from the Sundry Debtors and that even their names could not be furnished, and that apart, the Tribunal has recorded that the assessee had admitted that income details are available with the assessee and in the absence of any details, the Tribunal ri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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