TMI Blog2006 (4) TMI 90X X X X Extracts X X X X X X X X Extracts X X X X ..... stantial questions of law which are sought to be raised by the appellant in the present appeal, in our opinion, strictly speaking, fall within the realm of reappreciation of the evidence, which this court will not like to do in exercise of its appellate jurisdiction conferred under section 260A of the Act, where the jurisdiction vested in this court is only to examine a substantial question of law arising out of an order passed by the Tribunal. - findings are clearly findings of fact recorded concurrently by all the authorities. The issues raised by the appellant are not even questions of law, what to term these substantial questions of law - - - - - Dated:- 17-4-2006 - Judge(s) : ADARSH KUMAR GOEL, RAJESH BINDAL. JUDGMENT The appel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty to deposit the loan with the assessee-firm and it was in fact an entry arranged by the assessee himself and routed through Sh. Surinder Kumar. It was further found that a sum of Rs. 50,000 was deposited in cash in the savings bank account of Sh. Surinder Kumar on August 3, 1990, and on the same day the cheque for the same amount was issued by Sh. Surinder Kumar in favour of the assessee. Keeping this fact in view, the amount of Rs. 50,000 shown as credit in the account of Sh. Surinder Kumar was treated as unexplained and addition to that effect was made under section 68 of the Income-tax Act, 1961 (hereinafter referred as "the. Act"). Having failed even before the Commissioner of Income-tax (Appeals), the assessee approached the Tribun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ethi none of which were having sufficient deposits and no amount was withdrawn to explain the source of deposit of Rs. 50,000. Moreover, the Assessing Officer has also been able to establish that Shri Surinder Kumar was also not having the capacity to deposit Rs. 50,000 in his savings bank account out of which the cheque was issued in favour of the assessee as Shri Surinder Kumar has admitted to have spent Rs. 3 lakhs in the construction of the house. Though the Assessing Officer has estimated at higher amount and has also taken the amount of Rs. 80,000 from the Bank of India for purchase of tractor out of which Rs. 10,000 was still outstanding at the time of the assessment. Since no fresh material or evidence has been adduced to prove that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar. The assessee was further unable to prove not only his capacity but also identifiable source to advance the loan of Rs. 50,000 to the assessee. The assessee could not lead any evidence to the satisfaction of the Assessing Officer to prove the genuineness of the credit shown in the name of Sh. Surinder Kumar. In spite of a clear-cut finding of fact recorded by all the authorities, the appellant has sought to challenge the same by raising the substantial questions of law as has been referred to above. It has been held in R.B. Mittal v. CIT [2000] 246 ITR 283 (AP) that the Appellate Tribunal is the final fact-finding authority under the Act and findings of fact so recorded are not liable to be interfered with unless, in a case it is shown ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he present appeal, in our opinion, strictly speaking, fall within the realm of reappreciation of the evidence, which this court will not like to do in exercise of its appellate jurisdiction conferred under section 260A of the Act, where the jurisdiction vested in this court is only to examine a substantial question of law arising out of an order passed by the Tribunal. The guiding principles, which are to be kept in view, while entertaining an appeal under section 260A of the Act are well-defined in a catena of judgments of the hon'ble Supreme Court and this court. The same being as under: "(a) An appeal under section 260A of the Act cannot be entertained unless a substantial question of law arises for consideration by the High Court. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
