TMI Blog2013 (7) TMI 581X X X X Extracts X X X X X X X X Extracts X X X X ..... e Respondent : Mr. Arun Kurian Joseph Standing Counsel for Income Tax Dept. JUDGMENT (The Judgment of the Court was made by Chitra Venkataraman, J.) The following substantial questions of law are raised by the assessees seeking admission of the present Tax Case Appeals, preferred as against the orders of the Income Tax Appellate Tribunal, Chennai 'D' Bench dated 30.01.2013 in Appeal Nos.2067 2068 (MDS)/2012. "1. Whether on the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that the amount of deposit in the bank account of the appellant should be treated as un-disclosed income chargeable under Section 68 of the Income Tax Act ? 2. Whether the order of the Income Tax Appellat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o interior decoration etc. However, the Joint Commissioner of Income Tax directed the Assessing Officer to give one more opportunity to the assessees to substantiate their version. 4. The Assessing Officer, hence, called upon the assessees to give evidence in support of their contention. Except for pointing out that they had withdrawn a sum of Rs.7,50,000/- each, there were no materials to show that these monies were utilised for making payments to various persons. In the background of these facts, assessment order was made by the Income Tax Officer adding Rs.50,75,000/- to the taxable income. Aggrieved by the said assessment, the assessees went on appeal before the Commissioner of Income Tax (Appeals). 5. Having lost the appeal before ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /assessees raised the question that when the unexplained cash credits had been added to the income, the Tribunal should have considered deducting necessary expenditure and the profit alone could be taken as income. 9. We do not think such a contention, at this stage, is acceptable, especially when no evidence was produced by them to substantiate that the said sums were paid to them by the neighbourhood people for carrying out certain construction activity like floor laying, carpentry, interior decoration etc., In the circumstances, being pure findings of fact, we do not find any substantial question of law to admit the appeals. Consequently, the Tax Case Appeals are dismissed at the admission stage itself. No costs. - - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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