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2019 (1) TMI 153 - HC - Income TaxPenalty imposed u/s 158-BFA(2) - deposits undisclosed by the Assessee from the villagers of Rasipuram as income of the Assessee - disclosures made by assessee on condition that penalty and prosecution should not be initiated - Tribunal delted the addition same as CIT-A - that:- Tribunal held that the order passed by the CIT(A) was right, since the additions were offered on condition that penalty and prosecution should not be initiated and the offer was made to avoid protracted litigation as a matter of good gesture to keep up the Assessee among the people of his own village. Further, the Tribunal noted that there was no assessed material found, as a result of search to the fact that the deposits were undisclosed by the Assessee and this was assessed only on the basis of disclosure made by the Assessee. Furthermore, the Tribunal noted that it is not on the basis of any evidence and investigation conducted by the Department and it was not unearthed by the act of the Department. Therefore, the Tribunal held that there was no justification to interfere with the order passed by the CIT(A). The entire dispute revolves on the factual matrix, which was considered by the CIT(A) and decided in favour of the Assessee and once again re-appreciated by the Tribunal and concluded in favour of the Assessee and in this appeal, we are not expected to re-appreciate the factual position for arriving at a different conclusion. Thus, no substantial question of law arises.
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