2023 (7) TMI 507

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..... interfered with. As noted by Tribunal during the remand proceedings, the details such copy PAN, ledger account and confirmation and other details such as bank statement, audited books were made available before the AO. However, the AO without considering and pointing any deficiency in the above primary document held that the assessee failed to prove the identity of the creditor, explain the genuineness of transaction and establish the credit worthiness of the creditor - No substantial question of law.
HONOURABLE MR. JUSTICE N.V. ANJARIA and HONOURABLE MR. JUSTICE DEVAN M. DESAI Appearance: For the Appellant(s) No. 1 : Mrs Kalpanak Raval(1046) For the Opponent(s) No. 1 ORAL ORDER (PER : HONOURABLE MR. JUSTICE DEVAN M. DESAI) 1 .....

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..... partially allowed the appeal on 28.3.2017. As far as the addition of Rs. 11,74,50,000/- under section 68 of the Act was concerned, the appellate Commissioner deleted the addition of Rs. 11,69,50,000/- and confirmed the addition of Rs. 5,00,000/-. In respect of disallowance of Rs. 9,56,33,843/- of purchases, the appellate Commissioner deleted the addition to the extent of Rs. 9,55,33,843/- and sustained addition of Rs. 1,00,000/- 4.2 When the appeal was preferred by the department, the appellate Tribunal dismissed the appeal. Therefore, this Tax Appeal under section 260A of the Act came to be filed. 5. The only issue raised in form of substantial questions as noted above, is whether the Income Tax Appellate Tribunal is justified in uphold .....

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..... ion and other details such as bank statement, audited books were made available before the AO. However, the AO without considering and pointing any deficiency in the above primary document held that the assessee failed to prove the identity of the creditor, explain the genuineness of transaction and establish the credit worthiness of the creditor." 6. The findings recorded by the appellate Commissioner as well as the Income Tax Tribunal are based on material and proper appreciation thereof. They are the findings of facts not liable to be interfered with. 7. In view of the above, the substantial questions of law sought to be raised could not be said to be arising. No other substantial question of law arises. The appeal is dismissed.
C .....

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