TMI Blog2015 (10) TMI 1519X X X X Extracts X X X X X X X X Extracts X X X X ..... he controller of printing and stationery, Government of Punjab. It is inconceivable that for making a profit in the sum of ₹ 8 lakhs, the Assessee would agree to pay ₹ 5 lakhs as commission. The order of the ITAT fails to discuss the elaborate reasons given both by the AO and the CIT (A) for concluding that no 'finder services' were shown to have been rendered by the UIL to the Assessee. The only conclusion that the Court can draw from a reading of the impugned order of the ITAT is that it completely overlooked the evidence on record and came to a conclusion that can only be termed as perverse. The Court is, therefore, unable to sustain the impugned order of the ITAT. - Decided in favour of the Revenue - ITA No.8/2003 - - - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... od of nearly two months between 4th May 1991 and 27th June 1991 in seven instalments. The Assessee filed seven letters and seven debit notes purportedly sent by UIL for proving that commission had been paid to UIL for providing leads of potential customers. According to the Assessee each of the seven orders had been procured by UIL for her. 5. The Assessing Officer ('AO') found that no 'finder services' had in fact been rendered by the UIL and that the evidence produced appeared to be fabricated and forged. He held that a sum of ₹ 8,00,000 was not a business expenditure and disallowed it. 6. The Assessee then challenged the above order of the AO before the Commissioner of Income Tax (Appeals) [CIT (A)]. The CIT ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble to find any justification for the ITAT to have overlooked the factual findings of the AO and the CIT (A) which showed that the story made up by the Assessee of engaging the services of UIL for procuring orders from the Government of Punjab and other parties, was not substantiated. The ITAT surmised that There must have been something in the bottom that assessee was able to procure the order and able to sell the machine of ₹ 5.35 lakhs at a sum of ₹ 13.76 lakhs . This was the phototypesetting machine procured by the controller of printing and stationery, Government of Punjab. It is inconceivable that for making a profit in the sum of ₹ 8 lakhs, the Assessee would agree to pay ₹ 5 lakhs as commission. The order of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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