TMI Blog2014 (6) TMI 670X X X X Extracts X X X X X X X X Extracts X X X X ..... f IT Act. - present Misc. Petition has no force thus deserves to be quashed. - Decided against the assessee. - M.A. No.385/Ahd/2009 (arising out of IT(ss)A No.35/Ahd/2005) - - - Dated:- 13-6-2014 - Shri Mukul Kr. Shrawat And Shri Anil Chaturvedi,JJ. For the Petitioner : Shri O. P. Batheja, Sr.D.R., For the Respondent : Shri M.K. Patel, A.R. ORDER Per Shri Mukul Kumar Shrawat, Judicial Member This Misc. Application has been filed by the applicant on 6th of November, 2009 arising from the order of the Tribunal as noted in the nomenclature supra, order dated 30th of December, 2005. 2. Through this Misc. Application, the main grievance of the applicant is as per paragraph 2 of the Application, for ready referenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a 18(i) given by the Hon ble ITAT reads as under:- on the other hand, these replies seems to be make belief evidence at the behest of the assessee, otherwise, the style and contents of all these replies would not have been almost similar. Since, none of those persons seems to be a relative or close friends of the assessee, none of them would have waited for on money till a period of about seven years, i.e. from September, 1997 till July 2004 as has been stated in these replies. Such assertion, on the other hand, belies not only the claim of the assessee, but the stand of the retiring partners also. 3. From the side of the applicant, learned AR, Mr. M.K. Patel appeared. He has informed that against the order of the Tribunal an appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed being out of the purview of Section 254(2) of IT Act. He has also argued that there was no requirement of law to give an opportunity to the assessee for cross-examination of certain evidences which were not the witness of the Revenue Department. Revenue Department was under no obligation to offer such opportunity to the assessee. It was wrong on the part of the assessee to seek recall of a detailed order on that ground. He has pleaded that the conclusion of the Tribunal was not solely based upon that reason but the appeal of the assessee was rejected on several other reasons. 6. Having heard the submissions of both the sides. We have noted that only substantive ground which was raised by the assessee was that the Commissioner has erre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted that a loan was given and interest was earned. Since, the assessee had accepted an undisclosed interest income; therefore, the AO had proceeded to tax the undisclosed principle amount of Rs.80 lacs (approximate). The assessee on the other hand has pleaded that erstwhile partners of M/s. Ekta Corporation have not received full payment but recovered the payment in bits and pieces over the years after the retirement and upto the time of search. The contention of learned AR before us is that no finding on that fact was given by learned CIT(A). However, this plea of the assessee has no substance because the Revenue Authorities as well as the Tribunal have passed a detailed order on facts considering all those aspects. It was not at all a c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ef evidence at the behest of the assessee, otherwise, the style and contents of all these replies would not have been almost similar. Since, none of these persons seems to be a relative or close friends of the assessee, none of them would have waited for on-money till a period of about seven years, i.e. from September, 1997 till July, 2004 as has been stated in these replies. Such assertion, on the other hand, belies not only the claim of the assessee, but the stand of the retiring partners also. (ii) That, failure to mention the amount received by them till July, 2004 also goes to show that nothing was due from the assessee. 19. In view of above discussion and totality of the facts and circumstances of the case and the fact that th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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