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TMI Blog2015 (2) TMI 853X X X X Extracts X X X X X X X X Extracts X X X X ..... . The grievance of the Revenue was that the assessee is a private limited company. It is in the business of land development including purchasing of land, developing it by dividing into plots. The plots are sold. A search and seizure under section 132 of the Income-tax Act, 1961, was the subject matter of the proceedings. That was carried out on April 11, 2001. In response to the notice under section 158BC, the assessee filed a return declaring total undisclosed income of Rs. 15,57,000. The Assessing Officer completed the assessment under section 158BC(c) of the Income-tax Act by order dated April 29, 2003. He determined the total undisclosed income of Rs. 7,81,85,884 by making the addition of Rs. 7,66,28,884. The assessee, aggrieved by thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal. The Assessing Officer had a statement of the accountant before him but he did not examine the said accountant. The author of the document/paper also was not examined during the assessment proceedings. She, however, appeared before the Commissioner of Income-tax (Appeals). The Commissioner of Income-tax (Appeals) not only examined her but allowed the Assessing Officer to cross-examine the said deponent. The statement made in chief and the cross-examination, both have been referred by the Tribunal in adequate details. We do not find any perversity or error of law apparent on the face of record in the order passed by the Commissioner of Income-tax (Appeals) and which has been affirmed by the Tribunal. 5. Mr. Singh, appearing on behalf of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olous appeals being filed in this court. That causes huge loss to the public exchequer and results in wastage of precious judicial time of this court. All this ought to have been discouraged long time back. The High Court has not adopted a strict approach and that has possibly encouraged the Revenue in filing appeals to challenge essentially findings of fact and with regard to matters which should stand concluded at the level of the authorities. The officials should realize that the authorities like the Commissioner of Income-tax (Appeals) and the Income-tax Appellate Tribunal are envisaged as appellate and possibly final fact finding authorities and at least the Tribunal is the last in that hierarchy. The fact finding, therefore, if demons ..... X X X X Extracts X X X X X X X X Extracts X X X X
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