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TMI Blog2013 (10) TMI 12X X X X Extracts X X X X X X X X Extracts X X X X ..... the Tribunal was justified in law deleting the addition of Rs.82,73,328/- made by the Assessing Officer by treating the exports to M/s. Taj AL Khaleej General Trading Company, Dubai as bogus and consequentially treating the income to the assessable as "income from other sources"? 2. Whether on the facts and in the circumstances of the present case, Tribunal was correct in law in deleting the addition of Rs.59.87 lacs made by the Assessing Officer u/s. 69C of the Act on account of unexplained expenditure, incurred by assessee in respect of manufacturing activity carried out by M/s. MS Shoes East Ltd. for and on behalf of the assessee." 3. The first question is factual and relates to whether or not the assessee had made exports to Taj AL Kh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which were filed before the Assessing Officer, which prove that in fact transaction had taken place and was genuine. These included original bank certificate from UAE showing bills received by the said bank drawn on the importer and the fact that the respondent-assessee was paid, export orders were confirmed by the importer and the original statement showing credit limit of the importer issued by Export Credit Guarantee Corporation of India etc. The Sheikh had also explained the reason why he had earlier made a different statement. In view of the aforesaid position, we answer the first question in favour of the respondent-assessee and against the appellant-Revenue holding that the findings recorded by the tribunal do not require any interfe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e hands of MSSE. On this issue we find that there is no dispute with regard to the use of manufacturing facilities by M/s. PIL. The MD of MSSE has filed an affidavit in the proceedings whereby he has affirmed that they 1-Java allowed M/s. PIL to use the manufacturing facilities and that they did not charge any fee from them as both of them were companies belonging to the same group. This affidavit has not been adverted to by the revenue authorities. The Assessing Officer has however made a passing reference to the affidavit without making any efforts to disprove the contents of this affidavit. In the light of this affidavit, we are of the view that the first requirement of the provisions of S.69 C viz., that the assessee should have incurr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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