TMI Blog2017 (3) TMI 397X X X X Extracts X X X X X X X X Extracts X X X X ..... aving accepted the identity of the creditors, the genuineness of the transactions and the creditworthiness of the creditors in his remand report, it is no longer open to the department to contend otherwise. - Decided in favour of the assessee and against the revenue. - Income Tax Appeal No. 730, 726, 727, 729, 731 of 2012 - - - Dated:- 6-3-2017 - Hon'ble Bharati Sapru And Hon'ble Saumit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the grounds of appeal preferred by the department before the Tribunal reflects that the question no.2 does not arise from the order of the Tribunal inasmuch as from the grounds thus produced, it is clear that the issue pertaining to applicability of Rule 46-A of the Income Tax Act was not raised before or considered by the Tribunal, as such we are confining this appeal to question no.1 as prefer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s been elaborately extracted by the CIT (Appeals) in his order dated 23.11.2010 whereby the CIT (Appeals) allowed the appeal and set aside the additions made under Section 68 of the Act. While doing so the said authority has extensively examined the issue and principally relied on the conclusions drawn by the Assessing Officer in the remand report itself wherein the A.O. categorically stated (i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng essentially a question of fact, we find that the Tribunal in the instant case had examined the evidence on record, the most material being the conclusion drawn by the Assessing Officer after having been required to examine the issue and submit his report before the CIT (Appeals). The Assessing Officer himself having accepted the identity of the creditors, the genuineness of the transactions and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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