TMI Blog2019 (5) TMI 942X X X X Extracts X X X X X X X X Extracts X X X X ..... 54(2) of the Act so as to allow the assessee to re-argue the case. In our opinion, the decision of the Tribunal has not to be scrutinized sentence by sentence merely to find out whether all facts have been set out in detail by the Tribunal or whether some incidental fact which appears on the record has not been noticed by the Tribunal in its judgment. In our opinion, the Tribunal has considered all the relevant materials and has not taken into account any irrelevant material in basing its conclusion. It is not necessary for the Tribunal to state in its judgment specifically or in express words that it has taken into account the cumulative effect of the circumstances or has considered the totality of the facts, as if that were a magic for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essment was completed vide order dated 23.12.2009 accepting the return filed. Subsequently, action was initiated by the Addl. Commissioner, Income tax as per order u/s 271D of the Act dt. 17.08.2011 imposing a penalty of ₹ 74,56,185/- on the ground that a major chunk of the fixed deposits are received in cash, in violation of provisions of Section 269SS . 2.1 Against the said order, appeal was filed before the CIT (A). The learned CIT (A) confirmed the levy of penalty vide order dated 18.10.2013. 2.2 It was submitted that the Petitioner filed a second appeal before the Tribunal against the said order of penalty and the Tribunal vide order dated 25.07.2014 dismissed the appeal filed by the Petitioner. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2.4 It was submitted by the Ld. AR that from the above it was clear that the object of 269SS is to ensure that the taxpayer is not allowed to give false explanation for his unaccounted money as enunciated by the Supreme Court. Therefore, according to the Ld. AR, in cases where there is no question of unaccounted money being received in the guise of loan, the recipient is not be thrust with the burden of penalty u/s 269SS. In the present case, the petitioner had furnished complete details regarding name and address of the payer, employee badge number and amount had been furnished. Further, the petitioner had also issued receipt for all the deposits received by the petitioner. It was submitted that these facts are uncontrover ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... loans are not genuine, (vii) Section 269 T is not attracted. 2.5 Thus, It was submitted that non-consideration of all the above facts is an apparent mistake on the face of the record. The Tribunal has not considered either the legal issues /facts, which is a mistake apparent on the face of the record, which has to be rectified u/s 254 (2) of the Income Tax Act. It was therefore prayed that the le Tribunal may be pleased to kindly rectify the mistakes apparent on the face of the record and pass appropriate orders allowing the appeal. 3. The Ld. DR submitted that there is no mistake apparent from record so as to rectify the order of the Tribunal. 4. We have heard the rival submissions and pe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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