TMI Blog2013 (4) TMI 93X X X X Extracts X X X X X X X X Extracts X X X X ..... d since logic given is unacceptable, it calls for no interference. - TAX APPEAL No. 2567 of 2010 - - - Dated:- 1-2-2012 - MR. AKIL KURESHI AND MS SONIA GOKANI JJ. Appearance: MR BHATT, SR. ADV. MRS MAUNA M BHATT for Appellant(s): 1, ORAL ORDER (Per : HONOURABLE MS JUSTICE SONIA GOKANI) 1. To briefly state the facts for the assessment year 2004-05 there certain additions made by the Assessing Officer when the return of income was filed by the assessee. 2. When challenged before CIT(Appeals), it accepted the plea of the assessee and set aside the order of the Assessing Officer. 3. Being aggrieved by the same, the Revenue challenged before the Appellate Tribunal, which vide its order dated 16.7.2010 concurred wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Assessing Officer has worked out the cash balance at Rs.55,52,183/- available with the assessee on 31-03-2004 as per the disclosed sources of the assessee which is more than the cash disclosed as per the regular books of accounts of the assessee. In other words, the finding of the Learned Assessing Officer is that as per the disclosed sources of income the assessee should have possessed more cash that the cash disclosed by the assessee. In our view the above finding does not give rise to any reason for making addition to the disclosed income of the assessee. The finding of the Learned Assessing Officer is not to the effect than any asset was found possessed by the assessee source of which could not be explained by the assessee which could ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the amount of Rs.40 lakhs offered by the company being the payment to the sub-contractor, no addition can be made and set aside the order of the Assessing Officer. 11. The Tribunal, when was asked to adjudicate upon the issue, noted that in absence of any confirmation of details of payments, cash payment of the said amount was held to be not genuine and added to the income of the assessee. What has weighed with the Tribunal is the logic of CIT(Appeals) where it has held that if it is the disallowance of Rs.20,84,516/- which is sustained, then the source of investment of Rs.40 lakhs was needed to be reduced because the assessee had disclosed additional income of Rs.40 lakhs during the said assessment year as the source of making interest p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the fact that the same was not reflected in the books of accounts and it was also not claimed in original or revised return of income filed by the assessee. 15. CIT(Appeals) allowed the same being the expenditure amount for the business even though the same was not reflected in the books. 16. When the Tribunal was approached for adjudication of the said issue, it upheld the findings of CIT(Appeals) by saying that the payments of diesel oil expenses were made by the assessee respondent by cheques from regular books and the sum of Rs.78.84 lakhs was shown as recoverable from HPCL Pump, which was more than the amount of Rs.35.89 lakhs claimed by the assessee. Therefore, relying on the judgment of the Apex Court given in the case of Kedarna ..... X X X X Extracts X X X X X X X X Extracts X X X X
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