Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2004 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2004 (10) TMI 63 - ALLAHABAD HIGH COURTSearch – additions - Ownership of ornaments - "Whether Tribunal was justified in deleting an addition of Rs. 1,54,236 from the income of the assessee-Hindu undivided family?" - Tribunal has accepted the statement given by Sri Ramesh Chandra regarding ownership of the ornaments and deleted addition of Rs. 1,54,236 which is based on appreciation of evidence and the materials available on the record. It is always open to the Tribunal to accept or discard the statement and in the present case the Tribunal has given cogent reason for accepting the statement made and it cannot be said to suffer from any legal infirmity. We find that the findings recorded by the Tribunal are based on appreciation of evidence and the materials on record and cannot be said to suffer from any perversity. – Hence additions were rightly deleted
|