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2013 (3) TMI 460 - HC - Income TaxUnexplained share capital - burning loss - Provisions of law u/s. 145 of the Act - Held that:- Although, the Tribunal has not, in so many words, doubted the book results, nor it had rejected the book results, but at the same time, it has taken into consideration overall picture of burning loss of subsequent years and computation of deduction by the audit of percentage of Hard Coke so as to conclude the estimated figure of 30% of burning loss instead of 38.39%. It would not be necessary for the Tribunal to hold in so many terms that it does not accept the book results nor is it required of this Court in the Appeal u/s 260-A of the Income Tax Act, 1961 to scrutinize the facts when there is no question of law at all arising, much less a substantial question of law. Estimated figure work out by the Tribunal is broadly based on factual matrix which was presented before it and there is no infirmity that could be pointed out not to sustain the impugned order of the Tribunal. - Therefore, this Tax Appeal fails and is dismissed.
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