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TMI Blog2022 (2) TMI 929X X X X Extracts X X X X X X X X Extracts X X X X ..... and re-compute the income of the assessee for the block period. The learned counsel for the respondent/assessee submits that the order passed by the tribunal has been given effect to and the assessing officer has passed an order which is adverse to the interest of the assessee and the assessee is pursuing further remedies against the said order. Thus, in our considered view, there is no substantial question of law. Additions made towards contribution of share capital by the assessee to 117 companies - ITAT deleted the addition - HELD THAT:- Tribunal has re-appreciated the facts which were available on record while affirming the order passed by the CIT(A). In fact, it has rendered a finding that the assessing officer without bringing a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on. Further, factual analysis have also been made and it has been held that addition based on statement alone which has been recorded when the assessee was mentally disturbed cannot be sustained. In this regard it will be beneficial to note the circular issued by the CBDT dated 10th March, 2003 wherein the Board has stated that confession during the course of search, seizure and survey operations did not serve any useful purpose and the assessing officers were advised that there should focus and concentrate on collection of evidence of income which leads to information on what has not been disclosed or is not likely to be disclosed before the Income Tax Department. Further, it has been mentioned that while recording statement during the cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erred in law as well as on fact in confirming the decision of the CIT(A) regarding the deletion of the addition of ₹ 73,04,75,000/- made by the assessing officer towards contribution of share capital by the assessee to 117 companies out of undisclosed income ? (c) Whether on the facts and the circumstances of the case, the Learned Tribunal has erred in law as well as on fact in deleting the addition of ₹ 10,29,45,776/- towards the cash deposited in various bank accounts of the proprietary concerns of the benamdar of the assessee for which the assessee could not substantiate the source of deposit and even the addition was confirmed by the CIT(Appeals) ? (d) Whether on the facts and the circumstances of the case, the L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g officer with regard to the addition of ₹ 7.10 crores and restored the matter back to the assessing officer to examine the seized materials and re-compute the income of the assessee for the block period. The learned counsel for the respondent/assessee submits that the order passed by the tribunal has been given effect to and the assessing officer has passed an order which is adverse to the interest of the assessee and the assessee is pursuing further remedies against the said order. Thus, in our considered view, there is no substantial question of law arising for consideration with regard to the questions suggested in (a) and (e) above. Therefore, the same are rejected. The other three substantial questions of law also pertain to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nts belongs to the assessee and the addition was totally contrary to the findings recorded at various places in the assessment order and accordingly deleted the addition. Here also we find that a thorough investigation of the factual position has been done by the tribunal while granting relief to the assessee and we do not find any substantial question of law arising for consideration on the said issue. The next issue concerns the deletion of addition of ₹ 10 crores which is suggested as substantial question of law (d) above. The tribunal has considered the same and once again reappreciated the factual position and that the assessing officer himself has rendered a finding that the assessee is not a man of means and he has also acce ..... X X X X Extracts X X X X X X X X Extracts X X X X
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