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2015 (2) TMI 639 - HC - Income TaxAddition u/s.69 - payment of “on money” to the builders for acquisition of bunglow - ITAT deleted addition - whether any ground or reason arises to interfere with the order of the Tribunal? - Held that:- The Tribunal gave elaborate reasonings to assail the order of the Commissioner of Income Tax (Appeals) and the Assessing Officer. Thus, the fact remains that the entire issue is based on factual aspects and the Tribunal by giving cogent reasons, came to the conclusion that addition of ‘on money’ in case of respondent - Assessee is unjustified and accordingly, directed the addition of ‘on money’ to be deleted. Tribunal did not find any material evidence to establish that the Assessee made investment over and above what was recorded in the return of income filed by the Asessee. In the background of the present case, under these circumstances, there does not exist any ground or reason to interfere with the order of the Tribunal as no question of law, much less any substantial question of law, arises for our consideration and no perversity in the conclusion arrived at which give rise to interfere with the impugned orders has been pointed out that any of the findings are perverse in its nature. Therefore, the findings of fact recorded by the Tribunal are based on appreciation of fact and the appeals deserve no further consideration, more particularly, in light of various case-laws cited at bar by learned advocate Mr.Shah for the respondent - Assessee on the scope of appeal under Section 260A of the Act. - Decided in favour of assessee.
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