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2012 (4) TMI 204 - HC - Income TaxSearch & seizure – documents seized – one of the document contained working of interest @ 3% per month on total sum of Rs.3 lac - assessee contended that said documents belonged to his father who in turn denied knowledge of papers – addition made for principal and interest on presumption that assessee was involved in the business of financing – Held that:- Findings recorded by the Tribunal are based on appreciation of evidence on record and any reasonable individual, having regard to Section 3 of the Evidence Act, would arrive at the same conclusion. The aforesaid finding cannot be said to be one based on 'No Evidence' nor can that finding be described as a perverse finding of fact – Decided against the assessee
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