TMI Blog2014 (12) TMI 764X X X X Extracts X X X X X X X X Extracts X X X X ..... ding to question asked from assessee – the issue is a factual matter and there is no need to interfere in the order of the Tribunal – Decided against revenue. - ITA 769/2014 - - - Dated:- 18-12-2014 - Sanjiv Khanna And V. Kameswar Rao,JJ. For the Appellant : Mr. Rohit Madan, Sr. Standing Counsel with Mr. Ruchir Bhatia,Advocate For the Respondent : Mr. Salil Aggarwal and Mr. Prakash Kumar, Advocates ORDER Sanjiv Khanna, J. (Oral) This appeal by the Revenue under Section 260A of the Income Tax Act, 1961 ( Act in short) pertains to assessment year 2004-05. The Income Tax Appellate Tribunal (Tribunal, for short) by the impugned order dated 14.08.2014 has allowed the appeal of the respondent assessee, an individual ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 06 at an income of ₹ 6,21,629/-. It was observed from the records that the assessee has invested as share capital a sum of ₹ 1,66,23,750/- in M/s lsher Dass Sahni and Bros. Pvt. Ltd. But the accounts of the assessee did not reflect this investment and therefore had to be added in the Income of assessee as unexplained investment u/s 69 however, the above point was not taken in consideration while framing the assessment. 2. Recommendation ln view of the above facts, I have reason to believe that the income of the assessee, Sh. Narain Dass Taneja has escaped assessment within the meaning of section 147 of the I.T. Act 1961 to the tune of ₹ 1,66,23,750/- for assessment year 2004-05 by reason of omission or failure on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sclosure of material facts. In the reasons to believe, it is recorded that the assessee had not made full and true disclosure because he had not disclosed the investment of ₹ 1,66,23,750/- and, therefore, Section 69 of the Act should have been invoked. The finding of the Tribunal is that the assessee had made this disclosure at the time of original assessment by responding to question No.4. The answer given by the assessee to question No. 4 reads :- Q.No.4. The assessee has not made any investment in immovable properties during the year under consideration. Further, the assessee is submitting herewith details of investment made in unquoted shares in the following companies : Name of Company No. o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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