The Commissioner Of Income Tax, Nagpur v. Dwarkadas Agrawal

IN THE HIGH COURT OF JUDICATURE AT BOMBAY,NAGPUR BENCH, NAGPUR INCOME TAX APPEAL NO. 1 OF 2000 (The Commissioner of Income Tax, Nagpur ..vs.. Dwarkadas Agrawal, Proprietor M/s Hiralal Dwarkadas, Akola) ------------------------------------------------------------------------------------------------------------------------------- Office Notes, Office Memoranda ofCoram, appearances, Court's orders of directions and Registrar's orders Court's or Judge's order ------------------------------------------------------------------------------------------------------------------------------------ Shri A.S. Jaiswal, Advocate for the appellant. CORAM:- J.P. DEVADHAR AND A.B. CHAUDHARI, JJ.DATED :- 27th AUGUST, 2010 1.The Revenue is aggrieved by the order of the Income-tax Appellate Tribunal dated 09-8-1999, whereby the addition of Rs.22,00,000/- made as undisclosed income has been deleted. 2.The assessee is carrying on business as commission agent. 3.On the basis of the material found during the course of search, addition of Rs.22,00,000/- were made in the hands of the assessee as undisclosed income in the block period 1-4-1985 to 25-3-1996. 4.On appeal, the Tribunal held that though the quantum of amount gathered from the papers seized during the course of search can be presumed to be true, in the absence of any verification by the Revenue from the bankers it cannot be said that the amount belongs to the assessee, especially when the assessee is engaged in the business of discounting cheques and drafts. Accordingly, the Tribunal has deleted the addition of Rs.22,00,000/-. 5.The decision of the Tribunal is based on finding of facts and the said decision does not give rise to any question of law. Accordingly, the appeal is dismissed. No order as to cost. JUDGE JUDGE pma