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TMI Blog2008 (10) TMI 188X X X X Extracts X X X X X X X X Extracts X X X X ..... the fee from the patients directly and it was not charged to the accounts of the assessee – AO has not conducted inquiry to establish the truth of the joint statement - The technical insistence by the Assessing Officer that the assessee should have examined all the specialists is an untenable view. In the absence of contra material, the Assessing Officer cannot reject the genuineness and correctness of the statement. Question is answered in favour of assessee. - 435 of 2003 c/w 436 of 2003 - - - Dated:- 20-10-2008 - K. SREEDHAR RAO and C. R. KUMARASWAMY JJ. M. V. Seshachala for the appellant. Shivakumar for the respondent. JUDGMENT The judgment of the court was delivered by K. SREEDHAR RAO J. - Both the appeals are he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... account is disallowed for deduction and held to that extent as the income of the assessee. 4. The Commissioner of Income-tax and the Tribunal have concurrently held that the explanation offered by the assessee is sound and proper. Consequently, the orders of the Assessing Officer stood set aside. The State is in appeal. 5. The following substantial questions of law is formulated for consideration: In I. T. A. No.435 of 2003: "Whether the Tribunal was correct in holding that it was the burden on the Revenue to show that a sum of Rs.11,47,580 reflected in the accounts of the assessee belongs to the assessee by ignoring the presumptive value contemplated under sections 68 to 69B of the Act which shifted the burden on the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the specialists is not a ground to reject the statement of other specialists who are not examined. In the joint statement, the names and addresses of the specialists is given in detail. The Assessing Officer should have conducted suo motu enquiry of the specialists who are not examined before him to find out the truth of the joint statement. The technical insistence by the Assessing Officer that the assessee should have examined all the specialists is an untenable view. In the absence of contra material, the Assessing Officer cannot reject the genuineness and correctness of the statement. In that view of the matter, the question of law in both the appeals is answered in favour of the assessee. Both the appeals are dismissed. - - TaxTMI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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