Itta/53/2014 Of Commissioner Of Income Tax v. T Kishan

HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTAANDHON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A.No.53 of 2014 Date: 18-02-2014 Between:Commissioner of Income Tax-V,Hyderabad .....Appellant AND Sri T.Kishan, Hyderabad ...Respondent HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTAANDHON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A.No.53 of 2014 JUDGMENT:(per Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta ) This appeal is sought to be preferred against the judgmentand order of the learned Tribunal dated 4[th] September 2013 inrelation to the block period 1996-97 to 2002-2003 and sought to beadmitted on the following suggested question of law: “In the facts and circumstances of the case,whether the learned Tribunal is correct in law inupholding the order of the learned Commissioner ofIncome Tax (Appeals) in deleting the addition of thecredits in bank accounts of the respondent-assessee’s ‘Undisclosed Income’ withoutappreciating the fact that he not only failed to recordthe same in his books of accounts but also admittedin his statement that they do not represent sales? The learned Tribunal, after having considered andappreciated the factual aspect, has found that the ITAT in the caseof SOL has held that even the type 2 sales amounting toRs.2,94,44,341/- was found in the course of search representingactual sale of goods by the assessee. In view of this fact-finding,the learned Tribunal deleted the addition of Rs.2,94,44,341/-. Thisdecision is absolutely based on the fact-findings and the law hasbeen applied correctly. Therefore, we do not find any reason tointerfere with the judgment and order of the learned Tribunal andas such we do not admit the appeal. Accordingly, the appeal is dismissed. Miscellaneouspetitions, if any, pending shall also stand closed. No order as tocosts. ___________________ K.J. SENGUPTA, CJ __________________ SANJAY KUMAR, J 18-02-2014 Gsn