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2011 (1) TMI 796 - HC - Income TaxDisallowance - labour expenses - the Tribunal as well as the Commissioner (Appeals) have recorded concurrent findings of fact to indicate that the assessee had made payments to labour contractors by cheque only; had deducted tax at source out of majority of payments and had filed necessary TDS returns. The Assessing Officer had not pointed out any defect in the books of account regularly maintained by the assessee. In the light of the aforesaid findings of fact, the view taken by the Tribunal that the order made by the Assessing Officer was based on suspicion cannot be said to be, in any manner, unreasonable. The conclusion arrived at by the Tribunal being based on concurrent findings of fact, the said ground of appeal, therefore, does not give rise to any question of law. share application money - creditworthiness of creditors, genuineness of the transaction - Proof - the amount of share application money of Rs.6,50,000/- cannot be held to be undisclosed income under section 69 of the Act particularly when all the four persons who had paid share application money were existing income-tax assessees. It was further noted that there was no dispute that the names and addresses of the four persons were given to the Assessing Officer and that the said persons had furnished confirmations before the Assessing Officer - the Tribunal has merely applied the decision of the Supreme Court to the facts of the present case. In the circumstances, the said ground of appeal cannot be stated to give rise to any question of law so as to warrant interference.
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