TMI Blog2018 (1) TMI 456X X X X Extracts X X X X X X X X Extracts X X X X ..... e the Assessing Officer as well as the Commissioner of Income Tax (Appeals) by stating that the recipients had no corresponding credits in their bank accounts. This issue was examined by the Tribunal and on facts, it was ultimately found that the balance sheet of the assessee reflected investments made by the assessee in two companies, which were group companies of the assessee, namely M/s.Sri Pad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e brushed aside. - Decided against assessee - Tax Case Appeal No.719 of 2017 - - - Dated:- 21-12-2017 - T. S. Sivagnanam And K. Ravichandrabaabu, JJ. For the Appellant : Mr.S.Sridhar For the Respondent : Mr.T.R.Senthilkumar, SSC ORDER Judgment was delivered by T. S. Sivagnanam, J Mr.T.R.Senthilkumar, learned Senior Standing Counsel accepts notice for the Revenue. Heard bot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... On a careful reading of the order passed by the Commissioner of Income Tax (Appeals) as well as that of the Tribunal, we find that the above substantial questions of law do not arise for consideration, as what the assessee attempts to do is to call upon this Court to re-appreciate the factual position. 4. In the order passed by the Commissioner of Income Tax (Appeals), it was pointed out that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies of the assessee, namely M/s.Sri Padmabalaji Steels Private Limited and M/s.Suryabalalji Steels Private Limited and that these two companies were again private limited companies. It was further found that the assessee did not dispute that the said two companies were subjected to statutory audit under the Companies Act and that in the auditor's report of the assessee company, it was certifie ..... X X X X Extracts X X X X X X X X Extracts X X X X
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