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2012 (11) TMI 497 - GUJARAT HIGH COURTUnaccounted Money – fact finding authority - evidentiary value of the seized paper - during the search operation, a note was seized from the business premises of the assessee. Such note was written in his own handwriting. In the note several amounts were written and against each figure, names of persons connected with such amount was mentioned. On both sides of the page, all figures were totalled up. In his statement during the search, the assessee admitted that such amounts represented unaccounted money. - Only during the course of the assessment proceeding, the assessee produced a note written by Shri Bhanwarlal suggesting that he had never received any money from the assessee. Held that:- Mere note purported to have been given by Shri Bhanwarlal would not dislodge other voluminous and material evidence. The Tribunal found that the contents of the note cannot be readily believed. Tribunal had taken into account all relevant factors, examined evidence on record and came to the conclusions which are purely factual in nature. The High Court should not have taken upon itself the responsibility to go into the question whether the findings of facts reached by the tribunal are correct. The only question that the High Court was called upon to determine was whether on the facts found by the tribunal, the receipt in question should not have been considered by the tribunal as Revenue receipt. Tribunal committed an error in appreciating the evidence on record and in particular the answers given by the assessee in his statement recorded by the Revenue Authority during the search and thereafter. Even if two views were possible, it would not be possible for to overturn the findings of fact arrived at by the Tribunal particularly when Tribunal had taken into consideration all relevant evidence. It is not a case of no evidence and in that view of the matter, the findings of the Tribunal cannot be categorized as perverse - In the result, Appeal is decided against the assessee and in favour of the Revenue.
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