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TMI Blog2017 (4) TMI 1602X X X X Extracts X X X X X X X X Extracts X X X X ..... was open to the department to take recourse of Section 131 or Section 133(6) of the Act if they were to further proceed. That not having done so, the First Appellate Authority was within its jurisdiction to conclude on facts and law, in favour of the Assessee. Appellate Tribunal, in the Appeal at the instance of the Revenue, has not rendered the decision holding the finding of the First Appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... PER THOTTATHIL B. RADHAKRISHNAN, CHIEF JUSTICE 1. This appeal is under Section 260-A of the Income Tax Act, 1961 (herein after referred to as 'the Act') filed by the Assessee. 2. We have heard learned Counsel for the Appellant Assessee and learned Counsel for Revenue. 3. The Assessing Authority passed an order of assessment including certain amounts. That was challenged by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e addition of Rs.15,22,000/- was not sustainable as per law or on facts. Since, the Revenue had not discharged its resultant corollary onus. 4. The Tribunal reversed the decision of the First Appellant Authority at the instance of the Revenue. Hence this Appeal. Admitting this Appeal, this Court formulated the following substantial question of law: Whether the formation of opinion by the As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing in relation to the lender, the borrower is entitled to say that the contents of the returns of the lender and the matters emanating therefrom have to be looked into. In that view of the matter, the First Appellate Authority was justified, also on the basis of the judicial precedents referred by it, in entering the finding that the Assessee had discharged his primary onus under Section 68 of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enue to take recourse to Sections 131 and 133(6) of the Act, in the case of the Assessee, where the primary onus under Section 68 of the Act stood discharged by the Assessee. 7. For the foregoing reasons, we are of the view that the impugned order of the Tribunal has to be set aside, answering the question of law, framed and quoted above, in favour of the Assessee. We do so. 8. Resultantly, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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