TMI Blog2013 (12) TMI 1309X X X X Extracts X X X X X X X X Extracts X X X X ..... ring the explanation, which were found to be sufficient by the appellate authority - Decided against Revenue. - Income Tax Appeal No. - 66 of 2011 - - - Dated:- 13-7-2012 - Hon'ble Sunil Ambwani And Hon'ble Aditya Nath Mittal,JJ. For the Petitioner : Dhananjai Awasthi For the Respondent : Krishna Agarwal ORDER We have heard Shri Dhananjay Awasthi, learned counsel for the income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment year 2005-06 did not accept the books of account. He added Rs.11,39,000/- as unexplained increase of cash credit in the balance sheet, and also added the extra profit of Rs.68,484/-. The assessee challenged the order of the Income Tax Officer dated 10.12.2007 making additions on the returned income. He objected that the Assessing Officer has not considered the explanation of the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hit Agency is concerned, the appellate authority found that the appellant had appointed M/s Mohit Agency for its stocking business on receipt of draft of Rs.5 lacs in favour of M/s Mohan Bakers Pvt. Ltd., Calcutta (the consigner). A copy of the account of M/s Mohit Agency along with account of M/s Mohan Bakers was submitted before the Assessing Officer during the course of assessment proceedings t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted the findings that the ingredients of Section 68 of the Act, were not satisfied. The additions were made only for the sake of addition without stating that the assessee had failed to prove the identity and creditworthiness of Smt. Ram Kali Devi. The Tribunal also confirmed the findings with regard to entries of the demand draft in respect of M/s Mohit Agency. Section 68 of the Act provides th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thout considering the explanation, which were found to be sufficient by the appellate authority. In our opinion, the questions raised do not arise for consideration. The findings recorded by the appellate authority and the Tribunal are findings of fact, which do not raise any question of law to be considered by the High Court. The income tax appeal is dismissed. - - TaxTMI - TMITax - Incom ..... X X X X Extracts X X X X X X X X Extracts X X X X
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