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2003 (5) TMI 43 - HC - Income Tax"Whether, Tribunal was justified in law in sustaining levy of interest under section 216 of the Income-tax Act?" - before this court, Shri Gulati could not furnish any explanation for the difference of Rs. 48 lakhs in the first return and in the revised return, and thus, the assessee miserably failed to furnish any satisfactory explanation for this unexpected increase in the income to the extent of Rs. 48 lakhs, and that being a question of fact recorded by the Tribunal in the absence of any satisfactory explanation by the assessee, we are of the view that the Tribunal has rightly recorded the said finding setting aside the order passed by the appellate authority. - we answer the question in the affirmative, i.e., in favour of the Revenue and against the assessee.
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