TMI Blog2008 (5) TMI 249X X X X Extracts X X X X X X X X Extracts X X X X ..... ent can be granted only if it is proved that the investment is made in several years - valuation of assets which is a pure factual issue, therefore, tribunal’s decision of rejecting the claim require no interference - 173 of 2000 - - - Dated:- 26-5-2008 - C.N. RAMACHANDRAN NAIR and V.K. MOHANAN JJ. C. Kochunny Nair and Dale P. Kurine for the appellant. P.K.R. Menon for the respondent. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 068/- as income in the form of unexplained investment under Section 69B of the Act. However, in first appeal, the Commissioner of Income-tax (Appeal) accepted explanation offered by the assessee and reduced the addition to Rs.8,44,475/-. Even though assessee as well as department filed separate appeals to the Tribunal against the order of Commissioner of Income-tax (Appeal), the Tribunal dismissed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which is a pure factual issue. Therefore, there is no question of law involved so far as valuation of asset is concerned, which led to specific addition reduced by the Commissioner of Income-tax (Appeal). So far as the next aspect of the question raised i.e. assessee's request for spreading over of unexplained investment for several years, we do not think the same is permissible because Section 69 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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