TMI Blog1990 (1) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... n the circumstances of the case, the Income-tax Appellate Tribunal was correct in law in deleting the addition made by the Income-tax Officer on the basis of conflicting statements made by Shri K. I. Suri, Shri M. K. Suri, and Shri Sher Singh recorded on March 23, 1979, April 2, 1979, and May 18, 1979, and without considering the directions given by the Inspecting Assistant Commissioner under sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 21, 1979, and March 26, 1979. These cash credits related to the year 1979-80. The Income-tax Officer examined Shri M. K. Suri and came to the conclusion that the cash credits were not genuine and he added those amounts in the hands of the respondent. An appeal was filed before the Commissioner of income-tax (Appeals) who confirmed the order of the assessing authority. Further appeal was filed to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and has then come to the conclusion that the burden which was on the assessee had been discharged. It is pertinent to note that one of the items on which reliance was placed by the Tribunal was that some payments by way of interest had also been made by cheques. In our opinion, it cannot be said that the conclusion of the Tribunal is perverse. The question as to whether the cash credits were genu ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
