TMI Blog2010 (2) TMI 7X X X X Extracts X X X X X X X X Extracts X X X X ..... rores by Maruti Udyog Ltd – held that - The findings arrived at by the Tribunal are pure findings of fact and do not warrant any interference by this Court. Consequently, the appeal filed by the Revenue does not raise any substantial question of law. - 1415/2009 - - - Dated:- 1-2-2010 - MR BADAR DURREZ AHMED and MR SIDDHARTH MRIDUL, JJ. For the Appellant: Ms Prem Lata Bansal with Mr Paras Chaudhary For the Respondent: Mr Salil Aggarwal with Mr Prakash Kumar JUDGEMENT SIDDHARTH MRIDUL, J 1. On the 11th January, 2010 this Court had passed the following order:- "This is an appeal filed against the Income Tax Appellate Tribunal's order dated 17.4.2009 in respect of the block assessment made for the period 1.4.1989 to 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny other corroborative evidence. The addition of Rs 1.94 crores has been made on the basis of the transactions which involved the purchase of 100 acres of land by Maruti Udyog Ltd. in village Bhondsi, District Gurgaon, Haryana. The said 100 acres of land were admittedly purchased for an amount of Rs 3.86 crores by Maruti Udyog Ltd. It is also an admitted position that the entire sum of Rs 3.86 crores was paid to the assessee through cheques. It is also an admitted position that the assessee owned 47 acres of land comprised in the said 100 acres and the balance 53 acres were arranged by the assessee from other villagers. In respect of the 47 acres of land owned by the assessee a sum of Rs 1.76 crores was received from Maruti Udyog Ltd. In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able to satisfactorily explain as to how the assessee is stated to have spent a sum of Rs 1.94 crores in respect of a transaction which was admittedly only for Rs 3.86 crores. 3. The next issue relates to a sum of Rs 15 lacs which have been treated by the Assessing Officer as undisclosed cash receipts of the assessee and added back as undisclosed income of the block period. The Commissioner of Income Tax (Appeals) [CIT (A)] deleted the addition of Rs 15 lacs so made by the Assessing Officer by holding that no independent corroborative material had been found in support of the conclusion arrived at by the Assessing Officer that the amount of Rs 15 lacs was paid to the assessee. The Tribunal upheld the finding of the CIT (A) on the ground t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enue is dismissed." 4. Thus, concurrent findings of fact deleting the amount of Rs 15 lacs added by the Assessing Officer have been rendered. We see no reason to interfere with these findings of fact. 5. The third dispute in the present appeal is with regard to the addition of Rs 35 lacs made by the Assessing Officer as unexplained expenditure of the assessee under Section 69 C of the Income Tax Act, 1961. The CIT (A) in this behalf observed that no independent material or evidence had been brought on record by the Assessing Officer to establish that the notings/jottings recorded on the loose sheet of paper represented an unaccounted transaction. The CIT (A) accepted the explanation of the assessee that the sum of Rs 35 lacs represented ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issed this ground of the Revenue by holding as follows:- "27. Apropos Ground No.2, we find that the inscription contained various names like farms house, resort, Mussoorie project, office etc. There is neither any description of any expenditure in respect of any particular head or item, the figures are round figures and do not bear description of lacs or thousands. CIT (A) has considered explanation of the assessee against each and every entry. We have already indicated that each and every paper found may not represent undisclosed income or expenditure. The entries in question belonged to VTPL inasmuch as the assessee could explain from the books of VTPL that these projects were undertaken by it. In view thereof, we uphold the findings of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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