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Commissioner of Income Tax-25 Versus M/s. Synthetic Hydrocarbons

Unaccounted cash - sale of shops - Held that:- the findings of fact recorded by the Commissioner and the Tribunal do not raise any substantial question of law. If the actual area purchased by the Assessee is 454.50 square feet and the Assessing Offic .....

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Assessee nor to any specific shop. Going by the cross examination of Kantilal Patel and the specific answer to a question by him it is evident that it is not established that the Assessee actually paid ₹ 52,26,000/- over and above the purchase .....

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ppellant : Mr Arvind Pinto For the Respondents : Mr Jitendra Singh & Ms Neha Paranjape ORDER This Appeal is directed against the order passed by the Income Tax Appellate Tribunal, Mumbai Bench, Mumbai dated 12th September, 2012. 2. Mr. Pinto appe .....

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ound by way of certain incriminating papers. The persons concerned were examined and allowed to be cross examined, which revealed the transaction and the true consideration. In such circumstances, both, the Commissioner and the Tribunal erred in law .....

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s formulated at page 7 of the Appeal paper book. Hence, it be admitted. 3. On the other hand, Mr. Jitendra Singh appearing for the Assessee would submit that there are concurrent findings of fact and which are not perverse. The reference to the Judgm .....

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ion the cross examination of one Kantilal Patel, which revealed that the only consideration received for sale of the shop and to the extent of 454.50 square feet to the Assessee is ₹ 43,60,000/-. The cash component is stated to be received from .....

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