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2022 (2) TMI 1097 - HC - Income TaxInflation of expenses on account of lorry hire charges paid - ITAT not accepting the contention of the AO as to the authenticity of the books of accounts produced by the assessee in the course of search and survey operations who rejected the contention of the assessee that the records were destroyed by fire and that the whole of the contents of the books of accounts were audited by the authorised representative cum auditor of the assessee - HELD THAT:- Tribunal on noting the facts found that in the course of search which commenced on November 5, 2009, the survey team had seized electronic data and other records. However, there was no finding that any entry therein was false or fabricated - CIT(A) had set aside the findings of the assessing officer which had disbelieved the fire accident which took place in the office premises of the assessee at Strand Bank Road, Kolkata. Noting the facts, the Tribunal found that the assessee was able to substantiate with official records to show that there was a fire accident in the said premises which had destroyed the records. DR who appeared before the Tribunal could not controvert the said fact. Apart from that the other factual findings rendered by the CIT(A) were also considered and approved by the Tribunal. Thus we find there is no question of law much less substantial question of law arising on these issues, which have been raised in question Nos. 1 to 3. Accordingly, the same stand rejected. Addition toward immovable property - loan paper or any supporting documents were not produced during the assessment which may relate the loan or advances to the payment toward immovable property - ITAT deleted the addition - HELD THAT:- Tribunal after considering the factual submissions made by the assessee has verified the correctness of the finding rendered by the CIT(A) and held that the department could not controvert any of the facts which were recorded by the CIT(A) while allowing the assessee’s appeal. Thus, we find there is no question of law arising for consideration on this issue as well and the same stands rejected. Addition made on account of cash payment noted in seized document - ITAT deleted the addition - HELD THAT:- Tribunal found that the payments made during the financial year 2006-07 and in the subsequent years were all through banking channel and reflected in the balance sheet for the assessment year 2007-08 and subsequent years. Further the investment was financed to the extent of ₹ 1.15 crore by ICICI Bank which was explained at the assessment stage. Furthermore, the total investment made by the assessee was also found to be recorded in the books of accounts. These factual findings which were recorded by the CIT(A) could not be controverted by the department when the appeal was heard by the Tribunal. Thus, we find no substantial question of law arising for consideration
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