TMI Blog2015 (9) TMI 1127X X X X Extracts X X X X X X X X Extracts X X X X ..... t, that no substantial question of law arises. Further, though it was vehemently argued by Shri Devansh A. Mohta, learned counsel appearing for the assessee, that this was a case both of perversity and of there being no evidence at all. We find that not only are the findings of fact recorded in some detail but that it is not possible to say that this is a case of no evidence at all inasmuch as evi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... search operation under Section 132 of the Income Tax Act was carried out at various premises of the Time Video Group, one Shri Dhirajlal N. Shah made a statement on 25.08.1995 in answer to Question No. 9. He said to have disclosed that qua two of the movies with which his firm was concerned, the partnership firm had, in fact, undisclosed income amounting to ₹ 2 crores insofar as those films ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e conclusion that the figures stated in the Statement recorded were corroborated, in particular, by various loose sheets found at the premises of the assessee as well as vouchers, some of which related to the two films in question. In an appeal filed to the Tribunal, the Tribunal framed three issues, two of which were unnecessary for the reason that the statement recorded on 25.08.1995 was said to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... though it was vehemently argued by Shri Devansh A. Mohta, learned counsel appearing for the assessee, that this was a case both of perversity and of there being no evidence at all. We find that not only are the findings of fact recorded in some detail but that it is not possible to say that this is a case of no evidence at all inasmuch as evidence in the form of the statement made by the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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