9911796707
TMI Blog2024 (7) TMI 145X X X X Extracts X X X X X X X X Extracts X X X X ..... The Tribunal has further recorded that the assessee company in support of its stand has in fact filed an affidavit, the contents of which affidavit has not been disproved by the AO and no further inquiry appears to have been carried out by the AO. Tribunal observed that the AO has arrived at a belief that the contents in the said seized diary are pertaining to the instant Assessment Year 2010-11 only on the basis of presumption. We do not find any perversity in such a finding. Addition of legal expenses - Tribunal based on the materials on record, arrived at a conclusion that it is not discernable whether the Assessee has actually paid the said amount towards the legal expenses as no date is mentioned nor any other information can be gathe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s claim that the amount of Rs. 2,28,54,314/- is out of income disclosed in earlier years. (ii) Whether on the facts and circumstances of the case and in law, the Hon'ble ITAT erred in deleting the addition of Rs. 2,00,00,000/- made on account of legal expenses despite the said entry appearing in seized diary during the course of search action under Section 132 of the IT Act 1961 on 21.4.2010. (iii) Whether on the facts and circumstances of the case and in law, the Hon'ble ITAT erred in accepting the assesses' version that the entries in the diary are actual expenditure incurred and some entries in the diary are mere estimation. 2. Ms. Razaq appearing for the revenue while assailing the Order of the Tribunal invited our attention ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... purpose herein is Assessment Year 2010-11. 3. Assailing the common Order passed by the Tribunal dismissing the Appeal filed by the revenue as well as the Cross Appeal of the Assessee, the learned Counsel for the Appellant urged that the impugned Order is contrary to the provisions of the Act and is against the well settled interpretation of the relevant cited provisions. It is urged that the substantial questions of law set out herein above arise out of the Order of the Tribunal. Our attention is invited to the findings recorded by the CIT(A) and the Tribunal. Such findings are assailed on the ground that the same are perverse. 4. Shri Naik, learned Counsel for the Respondents submitted that the findings recorded are findings of facts which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... als on record, arrived at a conclusion that it is not discernable whether the Assessee has actually paid the said amount towards the legal expenses as no date is mentioned nor any other information can be gathered to say that the said amount of Rs. 2 Crore has been incurred towards legal expenses by the assessee company and no corroborative evidences have been brought on record by the Assessing Officer. It is further observed that the assessee company has to this effect, filed an affidavit itself, which cannot be brushed aside since the averments made in the duly sworn affidavit has not been disproved by the Assessing Officer during the course of assessment proceeding or before the CIT(A) or before the Tribunal. We find that the CIT(A) and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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