Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2015 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (2) TMI 210 - GUJARAT HIGH COURTAddition to income - Tribunal held that the disclosure made by the assessee was not over and above the income declared in its books of accounts despite the fact that this amount was disclosed by the assessee during the survey - statement recorded u/s. 133A is deemed to be statement recorded u/s 131(1) - Held that:- As per the Tribunal the Revenue has not brought any material on record to demonstrate that the additional of ₹ 35,00,000/- made by the A.O., is taxed by any tangible material apart from the statement recorded during the course of survey. The statement made is considered by the Tribunal and upon appreciation of evidence of the statement if the Tribunal has found that the Assessee admitted the income tax of ₹ 35,00,000/- for the respective year and the Tribunal did not find that it was in addition to the income already declared, such aspect would fall in the arena of finding of fact, which would be beyond the scope of Second Appeal. Attempt was made by the learned Counsel for the Revenue to contend that the statement made can be interpreted to mean the income declared of ₹ 35,00,000/- in addition to the normal income to which we find that the same cannot be accepted, because we have not found any perversity in the finding of fact by the Tribunal for treating the income of the Assessee at ₹ 35,00,000/-. In any event, when there is no perversity in the finding of fact, this Court in exercise of the power in Second Appeal would substitute another finding of fact as sought to be canvassed. - Decided against revenue.
|