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2009 (11) TMI 967 - Karnataka High Court

2009 (11) TMI 967 - Karnataka High Court - TMI - ITA No. 312/2004 - Dated:- 24-11-2009 - Mr. K. L. Manjunath, And Mr Aravind Kumar For the Appellants : Sri K. V. Aravind, Advocate for Sri. M. V. Seshachala, Standing Counsel. For the Respondent : Sri. R. V. S. Naik, Advocate for M/s King & Partiridge. JUDGMENT The Revenue has come up in this appeal challenging the legality and correctness of the order passed by the Income Tax Appellate Tribunal, Bangalore Bench for the block assessment period .....

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uld not be made and consequently recorded a perverse finding? 2. Whether the Tribunal arrived at a perverse find that the department has not found any material evidence to support the additions made, during the search when admittedly there was evidence of one of the parties as well as discrepancy in the deficit of stock to support the claim of the department? 3. Whether the Tribunal relived on the view expressed by it in the case of the same group of assessee when each case had to be appreciated .....

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has stated that after going through the records, the Tribunal is convinced that there is not scope for making additions in these two cases. Further it is stated that the Department has not found any material or evidence found in the course of search and there is no basis for making an addition when all purchases which according to the Assessing Officer are found accounted in the books of account. Therefore the learned counsel for the revenue submits that the Tribunal without considering the docu .....

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