TMI Blog2011 (11) TMI 426X X X X Extracts X X X X X X X X Extracts X X X X ..... stion of facts and the CIT(A) as well as the Tribunal have rightly recorded that the AO, without pointing out any specific mistake in the books of account have held that the books of account and other documents were not fully verifiable. The finding of the AO was rightly held as erroneous. There is no perversity in appreciation of facts - Appeal is dismissed - TAX CASE NO. 58 OF 2010 - - - Dated: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or short 'the AO'), while processing the return under section 143(1) of the Income-tax Act, 1961 (for short 'the Act, 1961'), issued notice to the assessee under section 143(2) and 142(1) of the Act, 1961. The assessee appeared through Advocates and Chartered Accountant and produced the books of account. The AO, holding that the assessee maintained books of account/documents, thought it was clai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, the trading results have shown increased trend. The yield of different products remained at the same rates as in the preceding year. The AO did not point out specific mistake warranting application of the provisions of section 145(3). Therefore, the addition is not reasonable and hence deleted." 5. There against, the Revenue preferred an appeal before the Tribunal. The Tribunal, after havin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deration only if there is perversity in the finding of fact. The Supreme Court, in Vijay Kumar Talwar v. CIT [2011] 330 ITR 1/196 Taxman 136/8 taxmann.com 264 (SC), held as under: "23. A finding of fact may give rise to a substantial question of law, inter alia, in the event the findings are based on no evidence and/or while arriving at the said finding, relevant admissible evidence has no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction. Thus, the issue is purely question of facts. No question of law, more so substantial questions of law, as aforestated, arise in the facts of the case. 31. As an upshot, both the appeals being bereft of merit, are liable to be and are hereby dismissed." 9. The instant appeal involves only on the question of facts, as the facts have been determined by the CIT(A) and affirmed by the Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X
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