Itxa/2928/2010 Of The Commissioner Of Income Tax -4 Mumbai v. Daga Fibres Pvt. Ltd

* 1 *ITXA.2928.2010 23.6.2011 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 2928 OF 2010 Commissioner of Income Tax-4V/S.M/s. Daga Fibres Pvt. Ltd ......Appellant.....Respondent Respondent * * * * Mr. Vimal Gupta, Advocate for the appellant. None for the respondent. CORAM :- J.P. DEVADHAR, & SMT. R.P. SONDURBALDOTA, JJ. 23[rd] June, 2011. P.C. :- 1. Whether the ITAT was justified in deleting the addition of Rs.17.97 lakhs made by the Assessing Officer in the Assessment Year 1998-99, is the question raised in this Appeal.the question raised in this Appeal. 2. On perusal of the order passed by the ITAT, it is seen that the ITAT has recorded a finding on fact that in the present case additions were made on the basis of a loose paper found by the Assessing Officer at the residence of a third party, viz Shri. Sushil Kumar Bagadia ITAT has recorded a finding on fact that in the present case additions were made on the basis of a loose paper found by the Assessing Officer at the residence of a third party, viz Shri. Sushil Kumar Bagadia during the course of search at his premises, The finding of fact recorded by the Tribunal is that the assessee as well as the said third party have denied to have entered into any transaction and in the absence of any corroborative evidence to suggest that such transaction ever took place, no addition could be made in the hands of the assessee on the basis of the loose papers found during the course of search at the premises of a third party. In our opinion, the decision of the Tribunal is based on finding of fact. No question of law arises. Hence, the Appeal is dismissed. [SMT. R.P. SONDURBALDOTA, J][J.P. DEVADHAR, J]