Ita/163/2009 Of Commissioner Of Income Tax v. Shankarlal Aswani

ITA No.163/2009 4/3/2014 : Shri Sanjay Lal , learned counsel for the appellant.This is a revenue appeal under Section 260-A of the Income Tax Act, 1961 challenging the order dated 3.4.2009 passed by the Income Tax Appellate Tribunal in the matter of permitting certain deductions to the respondent assessee for the return of income tax filed in the year 1994-1995. Respondent assessee is a wholesale purchaser of grains and soya beans. For the year 1994-95 a return was filed declaring the income tax at Rs.76,770/-. Assessment was completed by the Assessing Officer under Section 143(3) and total income was determined at Rs.18,62,640/- vide order Annexure A/1. Aggrieved thereof the assessee preferred an appeal before the Commissioner, Income Tax which allowed the appeal in part and vide order Annexure A/2 dated 1.7.1998 permitted certain deletion. Challenging the deletion made particularly with regard to an amount of Rs.3,58,352/- on account of unexplained cash credit and further a deletion of Rs.1,51,678/- on account of unrecorded profit for sale of Chana, appeal was filed by the Revenue before the Income Tax Appellate Tribunal, Indore. The assessee also challenged disallowing certain claim made by him. Both the appeals have been decided by consolidated order Annexure A/3 and as the mrs.mishra deletion permitted by the Commissioner, Appeal, has been upheld by the Tribunal, this appeal has been filed. Having heard Shri Sanjay Lal and on perusal of the record, we find that from para 7 onwards, the learned Income Tax Appellate Tribunal has assessed the matter and after going through the record and material available, given detailed reasons for upholding the order of Commissioner. The order passed by the Commissioner, Income Tax and affirmed by the Appellate Tribunal cannot be termed as erroneous or illegal. They are based on proper consideration and on due appreciation of the material available on record and we see no substantial question of law involved in the matter warranting interference in these proceedings. The questions raised as substantial questions of law are not questions of law but are in fact the challenge made to the deletion permitted by the Appellate Authority based on their subjective satisfaction of the documents and discretion exercised in the matter of permitting the deletion based on the appreciation of documents and the account books. The same does not call for any interference. Appeal is therefore, dismissed. ( Rajendra Menon)Judge ( J. K. Jain ) Judge