TMI Blog2017 (2) TMI 1126X X X X Extracts X X X X X X X X Extracts X X X X ..... n not only accepting the additional evidence on record, but, also in analyzing the same and holding that the creditworthiness, trustworthiness of the credit transaction have been proved beyond reasonable doubt. The aforesaid is a concurrent findings of fact recorded by the both the appellate authorities, they are reasonable in nature and we find no reason to interfere into the aforesaid concurrent finding of fact. In our considered opinion, no substantial question of law arises for consideration. The judgments relied upon by Revenue are distinguishable on facts. They were cases where additional evidence was taken on record without granting proper opportunity to the assessing officer to rebut the same, whereas in these cases,we find that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re usually of an amount less than ₹ 50,000/-. The cheques so issued are encashable anywhere in the country. In fact the assessee accepts cash from the customers and provides service by remitting the amount through banking channels and charges some commission. While conducting the assessment proceedings for the assessment years in question, the assessing officer made additions into the income of the petitioner on account of the fact that certain deposits said to have been made by various persons and institutions were found to be doubtful and the assessee was asked to prove the creditworthiness and genuineness of these transactions by furnishing copies of the bank pass book and other relevant documents. Finding the assessee to have fail ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is taken on record at the appellate stage without hearing and granting opportunity to the assessing officer, action taken is unsustainable, accordingly he submits that a substantial question of law arises for consideration and, therefore, on this count the appeals should be admitted and the substantial question of law in this regard framed. 6. We have heard Shri Sanjay Lal, learned counsel for the Revenue at length and we find that the learned appellate authority namely; the Commissioner (Appeals) has gone into the issue in detail in an order passed vide Annexure-A/2 running to more than 84 pages and while discussing the issue with regard to additional evidence produced before the appellate authority with regard to creditworthiness of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... asons which were considered by the assessing officer and reconsidered at the appellate stage by the Commissioner (Appeals), in para 8.1, the learned Tribunal decided the matter in the following manner : 8.1 From the order of CIT (A), we noted that the CIT(A) after appreciating the facts and evidence filed by the assessee, came to the conclusion that the assessee has duly discharged its onus as apply on the assessee u/s 68 of the Act. We noted that the assessee in both the cases from whom loan was taken, has filed the following documents; (i) Agreement for loan against securities (ii) Confirmation letter (iii) PAN (iv) Income tax return (v) Statement of total income (vi) Bank statement (vii) TDS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion was unreasonable or perverse or based on no evidence. If the conclusion was based on some evidence on which the conclusion could be arrived at, no question of law as such arose. The High Court was right in refusing to state a case. 8. From the aforesaid, it is clear that in the matter of permitting additional evidence and thereafter in considering the same at the appellate stage, the Department through the assessing officer was granted reasonable opportunity to rebut the same and after considering various aspects of the matter, concurrent findings have been recorded by both the appellate authorities namely; Commissioner (Appeals) and the Income Tax Appellate Tribunal. Finding no error in not only accepting the additional evidence ..... X X X X Extracts X X X X X X X X Extracts X X X X
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