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TMI Blog2009 (7) TMI 71X X X X Extracts X X X X X X X X Extracts X X X X ..... ed given could form basis for the Assessment? – Held that - it cannot be said that the Appellate Tribunal in the case before us has omitted to consider any material fact or any material piece of evidence – appeal dismissed. - 607 of 2009 - - - Dated:- 28-7-2009 - F.M. IBRAHIM KALIFULLA and B. RAJENDRAN, JJ. Mr. K. Suresh Kumar for the Appellant. JUDGMENT The Judgment of the Court was made by F. M. Ibrahim Kalifulla, J. - The Revenue has come forward with this appeal challenging the order of the CIT(Appeals) dated 17.12.2008 passed in I.T.A.No.1921/Mds/2007 in and by which the order of the CIT(Appeals) dated 25.05.2007 was confirmed. 2. The questions of law that arise for consideration in this appeal are as under:- "[i] ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount of Rs.20,00,000/- offered by the assessee in the letter dated 22.03.2005 is concerned, the CIT(Appeals), had relied upon the decisions reported in (1995) 54 ITD 116 and (2002) ITR (AT) 69 wherein, it was held that taxation was not based on the agreement between the tax-payer and the Revenue and is levied based on the income supported by evidence. The CIT(Appeals)also noted that in respect of a sum of Rs.20,00,000/- offered, except the ipse dixit statement contained in the letter dated 22.03.2005, there was no supporting material evidence to establish that there was really any stock deficiency to the tune of the said value. It was on the above said reasoning, the deletion of a sum of Rs.37,71,931/- came to be made by the CIT(Appeals). ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT(Appeals) on the above two items and its deletion, were based on a detailed consideration of relevant factors and in any event, such conclusions were out and out concerning the factual matrix of the case and we do not find any irregularity or illegality in the above conclusion reached by the CIT(Appeals), which was simply confirmed by the Tribunal, in its order dated 17.12.2008. 6. When we pursued the impugned order of the Tribunal, we find that the Tribunal has simply made a statement to the effect that the CIT(Appeals) recorded ample reasons for deleting various disallowance's and that the reliefs were granted only based on valid grounds explained by the assessee, and therefore, there was no necessity to disturb the order of the C ..... X X X X Extracts X X X X X X X X Extracts X X X X
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