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2014 (2) TMI 426 - ITAT COCHINRectification or order u/s 254(2) of the Act – Mistake apparent from record - Held that:- The onus placed upon the assessee u/s 68 of the Act to prove the cash credits are well settled – Relying upon CIT Vs. K. Chinnathamban [2007 (7) TMI 204 - SUPREME Court] - the onus of proving deposits lies upon the person in whose name the deposit stands - the Tribunal has decided the issue by considering the facts of the case in a detailed manner, since the facts that prevailed was peculiar and the issue was purely a question of fact - thus, it cannot be said that the order of the Tribunal suffers from mistake on account of non-discussion of the case laws relied upon by the assessee and which were considered as not applicable by the Tribunal – thus, the short fall, if any, in not discussing about the relevancy/irrelevancy of the case law cannot be made good u/s 254(2) of the Act. Opportunity of being heard – Held that:- The manner and method of investigation is decided by the tax authorities and in fact, it is their prerogative to decide about the modalities - the Tribunal also did not find any infirmity in the decision reached by them - it is the responsibility of the assessee to disprove the view entertained by the assessing officer on the basis of materials gathered by him - the bank authorities can depose about the "apparent" only, whereas, the case of the revenue is that the apparent is not real - the revenue has substantiated their contentions with adequate materials - Thus, the evidences considered by the Tribunal cannot be considered as material and the true facts could have been ascertained by examining the bank manager If the error sought to be pointed out has to be established in a long drawn process of reasoning with number of arguments, then they cannot be considered as a mistake apparent from record – there was no merit in the petitions filed by the assessee – Decided against Assesssee.
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