TMI Blog2014 (11) TMI 560X X X X Extracts X X X X X X X X Extracts X X X X ..... earlier’s outstandings - only peak entry of the payment made to the labourers till the last date of accounting year is made and actual dates of payments are not known. Relying upon Murlidhar Lahorimal Versus Commissioner of Income-Tax [2005 (11) TMI 32 - GUJARAT High Court] - The primary onus which rested with the assessee stood discharged - if the revenue was not satisfied with the source of the funds in the hands of the donor, it was upto the revenue to take appropriate action - the assessee produces relevant documents as evidence to establish genuineness of the credits, much needed relief is required to be given to the assessee - the Tribunal has observed that only one labourer was produced before the AO and the Tribunal discharged th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s 68 of the Act. 2.1 Being aggrieved by the order of CIT(A), the respondent filed appeal before the Tribunal and the Tribunal vide impugned order dated 08.01.2002 partly allowed the appeal and partly restored the order passed by the Assessing Officer. Being aggrieved by the said order, the present appeal is filed by the assessee. 3. Learned advocate appearing for the appellant assessee submitted that the Tribunal has seriously erred in upholding the order of the Assessing Officer in adding ₹ 3,00,000/- u/s 68 of the Act without properly appreciating facts and without considering the applicability of section 68 of the Act. She submitted that the Tribunal has erred in not appreciating that section 68 is at all not attracted as n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sing Officer on the basis of the credits appearing in the books of accounts of the assessee in the year under appeal. 6. As a result of hearing and perusal of records, we are in complete agreement with the reasonings adopted and findings arrived at by the Tribunal. The Tribunal rightly held that no credence can be given to the statement filed before the revenue authorities regarding payments having been made to the labourers during the year under appeal relating to the earlier s outstandings. It is to be noted that only peak entry of the payment made to the labourers till the last date of accounting year is made and actual dates of payments are not known. 6.1 In the case of Murlidhar Larhorimal (supra) this Court has observed as under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gone through the statements of the donor as well as the assessee, it is apparent that despite minor discrepancies, the factum of the gift having been made has been accepted by the donor and in the circumstances, it cannot be stated that the credit entry in the capital account of the assessee did not reflect the true picture. The assessee had shown the same as gift received . The assessee tendered an explanation and nothing has been brought on record to even hold for a moment that the said explanation is not satisfactory. Though the same is stated as a conclusion, the reasoning for stating so is as to disbelieving source of source. In these circumstances, the impugned order of Tribunal cannot be sustained. 6.2 In the case of Ashwinbhai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubmitted that if the Tribunal had adjourned the matter; as prayed for, the assessee would have moved an application for production of additional evidence which would have established the genuineness of credits. To our mind, it is a too far-fetched an argument to uphold the contention that reasonable opportunity was not granted to the appellant. In the result, no question of law arises, Tax Appeal stands disposed of. 7. The sum and substance in both these decisions is that when the assessee produces relevant documents as evidence to establish genuineness of the credits, much needed relief is required to be given to the assessee. In the present case, the Tribunal has observed that only one labourer was produced before the Assessing Office ..... X X X X Extracts X X X X X X X X Extracts X X X X
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