9911796707
TMI Blog2009 (6) TMI 531X X X X Extracts X X X X X X X X Extracts X X X X ..... this appeal is taken up for admission. 2. Heard Sri R. Rama Murthy, learned counsel appearing for the appellant. The correctness of the impugned order is questioned in this appeal by framing the following substantial questions of law and urged grounds in support of the same: (i) Whether, on the facts and in the circumstances of the appellant's case, the order of the Appellate Tribunal is not one of perverse? (ii) Whether, on the facts and circumstances of the appellant's case, whether the Tribunal is justified in upholding the addition made by the Assessing Officer? (iii) Whether the order of the Tribunal is sustainable in law? 3. It is also contended by learned counsel for the appellant that the aforesaid questions of law would aris ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs.15,22,651 which is assessed by the assessing authority has been accepted by the Tribunal without examining the material evidence produced before the Tribunal. 7. With reference to the above legal submissions made by learned counsel for the assessee, we have examined the case of the appellant to find out as to whether the aforesaid substantial question of law would arise for our consideration. Our answer should be in the negative against the assessee for the following reasons: The Tribunal has taken all relevant material evidence produced by the appellant before it such as opening stock in terms of kgs, purchase of are canut and selling the same in terms of kgs and the same is referred to in the impugned order. It also verified the good ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to his sister concerns and made further observation that the assessee has conveniently avoided this details to be filed because it is a colourful device in the form of sale at a lower rate to the sister concern. The Tribunal has accepted the finding of the Assessing Officer based on proper appreciation of material evidence on record and further adding income of Rs.15,22,651 to fasten the tax liability which was on the basis of the valuation of 42,816 kgs properly indicated in the order of assessment to arrive at that figure. The concurrent finding of fact recorded by the Tribunal in its order is on the basis of facts and on proper appreciation of legal evidence on record. Therefore, it cannot be said that the finding of the Tribunal is perv ..... X X X X Extracts X X X X X X X X Extracts X X X X
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