Kersi K. Deboo v. The Asst. Commissioner Of Income-Tax, Circle 13(1

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTIONINCOME TAX APPEAL NO.380 OF 2005 Kersi K. Deboo ... Appellant Vs The Asst. Commissioner of Income-tax, Circle 13(1)... Respondent Mr. K. Gopal for the appellant. CORAM: SWATANTER KUMAR, C.J.,& A.P. DESHPANDE, J.DATE : 14TH JULY, 2008 A.P. DESHPANDE, J. P.C.: The present appeal is directed against the order of theIncome Tax Appellate Tribunal dated 8[th] September, 2004 videwhich the appeal filed by the Assessee was dismissed. Impugningthe order of the Tribunal, the learned counsel appearing for theappellant while relying upon the circular issued by the CentralBoard of Direct Taxes dated 10[th] March, 2003 submits that thefollowing question of law arises for consideration: Whether the Income tax Appellate Tribunal isjustified in Law confirming the action of theAssessing Officer in making an addition ofRs.35 lakhs merely relying on the statementrecorded under section 132(4) which wassubsequently retracted? 2. After hearing the learned counsel for the parties and after perusing the order of the Tribunal, we are of the consideredview that no question of law much less substantial question of lawarises for consideration of the court. The circular issued by the Central Board of Direct Taxes is primarily an advise given where itwas advised that there should be focus and concentration oncollection of evidence of income which leads to information on whathas not been disclosed or is not likely to be disclosed before the Income Tax Department. This is primarily the matter ofappreciation of facts and would depend on the facts and evidenceon record in a given case. 3.In the present case, the Tribunal affirmed the finding ofthe Assessing Officer that the Assessee had unaccounted incomeof Rs.35 lakhs and the search and seizure operation conducted inthe premises of the persons who are closely related to theAssessee in the business revealed transaction reflecting theundisclosed income. No merit. Dismissed. CHIEF JUSTICE A.P. DESHPANDE, J.