TMI Blog2001 (11) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... eting the additions made for undisclosed investment in stock as well as consequential effect of sale?" The facts clearly show that the Tribunal on appreciation of evidence including the result of investigation and details contained in the form of statement of stock submitted to the bank, has reached a definite finding that the statement to the bank was a motivated one and it did not reflected the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Income tax Appellate Tribunal is justified in holding that the stock statement submitted to the bank cannot be considered an authentic piece of evidence for making addition and thereby deleting the additions made for undisclosed investment in stock as well as consequential effect of sale?" Having perused the order of the Tribunal, we are of the opinion that no question of law much less a subst ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stock position so as to avail of higher limit of credit from the bank. This explanation submitted by the assessee was not accepted by the Assessing Officer as well as by the Commissioner of Income-tax (Appeals). However, the Tribunal, on appreciation of evidence, found that in the present case, there was no physical control over the stock pledged with the bank and it remained with the assessee hi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uding the result of investigation and details contained in the form of statement of stock submitted to the bank, has reached a definite finding that the statement to the bank was a motivated one and it did not reflected the true position of the stock position but was rightly reflected in the books of account. In that view of the matter, the finding reached by the Tribunal is a finding of fact wh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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