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2012 (8) TMI 1129 - HC - Income TaxIncome From Undisclosed Sources - Finding of Fact - Non genuine and creditworthiness of unsecured loan and creditors - HELD THAT:- On perusal of the orders passed by the Tribunal, it is found that the Tribunal has elaborately dealt with this issue. The Tribunal by appreciating the material on record has recorded finding of fact to the effect that the genuineness of the transaction is proved. While reaching to the said conclusion, the Tribunal has taken note of the reasoning of the assessing officer as well as CIT (Appeals) and has also considered the other material on record. The Tribunal on its own independent analysis of the matter has reached to the factual conclusion about the genuineness of the transaction and in this process the Tribunal has taken note of the fact that the detailed account of the concerned parties were filed by the assessee and the entries in the account were through account payee cheques, the source of deposit in the bank was not in dispute and the identity of the parties was established and also that the creditworthiness of the creditors was also established. The aforesaid finding which has been recorded by the Tribunal is essentially a finding of fact. In view of the Division Bench judgment of this Court in the matter of Gyan Chand Anil Kumar v. ITO [2001 (3) TMI 40 - MADHYA PRADESH HIGH COURT] such a finding is a pure finding of fact which does not involve substantial question of law. Learned counsel for appellant has failed to point out any error or perversity in the said finding of fact. Thus, the appeal does not involve any substantial questions of law requiring consideration by this Court which is accordingly dismissed.
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