9911796707
TMI Blog2009 (11) TMI 51X X X X Extracts X X X X X X X X Extracts X X X X ..... absence of books of account. On appeal, the CIT (A) partly allowed relief to the assessee by holding that rate per share should have been taken to be Rs.88/-, as against the rate of Rs.92.90 per share, assessed by the Assessing Officer. The Tribunal upheld the view of the CIT(A) – held that - The matter is clearly in the realm of appreciation of evidence. No substantial question of law arises. - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the highest rate of Rs.92.90 per share and that the assessee had failed to substantiate the rate at which the shares were actually traded, which fact was in its exclusive knowledge. (ii) Whether in the facts and circumstances of the case, the ITAT was justified in not giving the benefit of the provisions of Section 114 of the Indian Evidence Act to the Revenue by applying the highest rate at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he rate of Rs.92.90 per share, assessed by the Assessing Officer. The Tribunal upheld the view of the CIT(A) by giving reasons. 3. Learned counsel for the revenue submits that the CIT (A) as well as the Tribunal should have assessed the rate at Rs.92.90 per share. 4. We find that the Tribunal has given reasons for accepting the view of CIT(A). Relevant observations of the Tribunal are as unde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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