The Commissioner Of Income Tax, Aurangabad v. Shri Lalit Ramgopal Rathi, Aurangabad

IN THE HIGH COURT OF JUDICATURE AT BOMBAYBENCH AT AURANGABAD INCOME TAX APPEAL NO. 40 OF 2014 The Commissioner of Income Tax, Aurangabad.. Appellant Versus Shri Lalit Ramgopal Rathi, Aurangabad .. Respondent Mr.Alok Sharma, Advocate for the appellant.Mr.R.N. Dhorde, Sr. Counsel with Mr.V.R. Dhorde, Advocate for sole respondent. P.C. :- CORAM : A.V. NIRGUDE &V.L. ACHLIYA,JJ.DATED :03.12.2014 1.Heard learned Counsel for the parties, perused appeal memo and judgments of the Lower Court. The only question that arose between the parties was whether the unknown party who invested more than Rs.3 Crores with one Rudrani Constructions is the assessee. The assessee denied his concern with the questioned transaction of Rudrani Constructions. The Assessment Officer somehow came to a conclusion that the assessee is the person who invested huge cash amount with Rudrani Constructions, but there is hardly any substantive evidence to establish this conclusion. Both the Appellate Authorities on facts held that the Assessing Authority did not collect sufficient evidence with the assessee of the transaction in question. We are not entering into factual dispute between the parties since the case was decided mainly on facts. There cannot be any substantial question of law arising in this appeal. The appeal stands dismissed. [V.L. ACHLIYA,J.] [A.V. NIRGUDE,J.] snk/2014/DEC14/ita40.14