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2018 (3) TMI 963

f the figures indicated in the Balance Sheet is not supported by the evidence on record. In these circumstance, the question as proposed does not give rise to any substantial question of law as it is an essentially finding of fact which is not shown to be perverse is any manner. - Decided against assessee. - Appeal admitted on the substantial question of law at no.3 - Whether in the facts and circumstances of the case, and in law, the Tribunal is justified in sustaining the dis-allowance of interest under Section 40A(2)(b) of the Act ? - Income Tax Appeal No. 1161 of 2015 - 6-3-2018 - M. S. Sanklecha And Sandeep K. Shinde, JJ. Mr. Nishit Gandhi i/by. Mr. Vipul Joshi, Advocate for the appellant Mr. P.C. Chhotaray, Advocate for the respo .....

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ad suddenly expired. On 12th April, 2015 after hearing the parties, the Tribunal had adjourned the hearing of the two Appeals to 14th January, 2015. Thereafter, the parties were heard on 14th January, 2015 at which time there is nothing on record to indicate that the appellant had sought time from the Tribunal and it was refused. Infact, the impugned order indicates that on that date the appellant made the submissions in support of its Appeal on merits and it was considered in the passing of the impugned order. In the above said facts, the grievance of breach of natural justice cannot be sustained. (iii) Accordingly, question no.1 as proposed does not Tuesday, 6.3.2018 give rise to any substantial question of law. Therefore, it is not enter .....

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lso not produced before the authorities. The only evidence produced in support of its claim was before the Tribunal in the form of an Certificate of Excise Audit, which the Tribunal records was infact a blank piece of paper. Our attention was drawn by Mr. Gandhi to the Excise Audit Certificate and we find that it is only the last page of the Excise Register which bears only a signature of the Audit Department stating that the Central Excise Records have been verified. No particulars of the figures therein are found to have been mentioned/furnished. In the aforesaid circumstances, the impugned order records the fact that the Certificate of the Excise Audit cannot be relied upon. Thus, dismissed. (v) The first grievance of Mr. Gandhi, Learned .....

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ld not be supported by any evidence led by the appellant. Infact, in this case there is complete absence of evidence being led by the appellant, that the closing stock as reflected in the Balance Sheet is correct as even the stock records were not produced. (vii) We find that, all the three authorities have come to a finding of fact that the claim of closing stock made by the appellant on the basis of the figures indicated in the Balance Sheet is not supported by the evidence on record. In these circumstance, the question as proposed does not give rise to any substantial question of law as it is an essentially finding of fact which is not shown to be perverse is any manner. (viii) Accordingly, Question no.2 also does not give rise to any su .....

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