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2019 (7) TMI 440 - HC - Income TaxAddition u/s 69 - value of gold and diamond in Peak in WPS account - addition based on materials available on record including the seized material - Tribunal deleted the addition after calling remand report - HELD THAT:- In the instant case, the details were culled out from the books maintained by the assessee. The assessee, no doubt, did not offer convincing explanation before the AO, but raised a plea before the Tribunal that they are willing to produce all the names of their customers as well as their workers who can be examined. Tribunal was convinced with the stand taken by the assessee and therefore, granted an opportunity to the assessee to do so and called for a remand report. Statements were recorded from the customers and the job workers and the identity of the customers and job workers was not disputed by the Revenue, as they had produced proper proof of identity. The explanation offered by the assessee read with the statements given by the customers and job workers was found to satisfactory to the Tribunal. This satisfaction being recorded by the Tribunal is a satisfaction on the facts placed before it. Exercising power u/s 260A, we cannot venture into the factual thicket to state that the satisfaction recorded by the Tribunal was unfounded. Therefore, in our considered view, the Tribunal was right in granting relief to the assessee. - Decided against revenue
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