TMI Blog2009 (8) TMI 1198X X X X Extracts X X X X X X X X Extracts X X X X ..... peals are filed by the revenue to challenge the orders of ITAT wherein the Tribunal by following its decision in the case of Uttamchand Jain has deleted the addition of undisclosed income made by the Assessing Officer. It may be noted that the appeal filed by the revenue challenging the decision of the Tribunal in the case of CIT v. Uttamchand Jain [2009] 182 Taxman 243 (Bom.) has been dismiss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r on the statement was retracted and an affidavit was filed on oath to effect that the transactions were genuine, the transactions were not proved. Challenging the aforesaid orders, appeals were filed and ultimately the Tribunal following its decision in the case of Uttamchand Jain (supra) allowed the claim of the assessees and deleted the additions. Challenging the aforesaid orders, present appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (supra). 5. There is no merit in the above contention because, in all these cases the sales are claimed to have been made either to Vishnudutt Trivedi (Prop. of M/s. Dhananjay Diamonds) or Ratnadeep Jewellery or Kankai Jewellers. Admittedly, Vishnudutt Trivedi had participated in the assessment proceedings relating to Uttamchand Jain. If Vishnudutt Trivedi had appeared in the assessment procee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rary it is difficult to hold that the transactions were not genuine. Even if the assessees had paid commission to the middleman for effecting the sale without examining the middleman and without adducing any evidence to the contrary it cannot be said that the transactions are not genuine. Moreover, the genuineness of the sales in the hands of the purchasers have not been doubted by the revenue. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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