The Principal Commissioner Of Income Tax 2 v. Bhagwanbhai Karmanbhai Ajara

C/TAXAP/151/2018 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD TAX APPEAL NO. 151 of 2018 With R/TAX APPEAL NO. 152 of 2018With R/TAX APPEAL NO. 153 of 2018 ========================================================== THE PRINCIPAL COMMISSIONER OF INCOME TAX 2VersusBHAGWANBHAI KARMANBHAI AJARA ========================================================== Appearance:MRS MAUNA M BHATT for the PETITIONER(s) No. 1MS VAIBHAVI K PARIKH for the RESPONDENT(s) No. 1 ========================================================== CORAM: HONOURABLE MR.JUSTICE AKIL KURESHIandHONOURABLE MR.JUSTICE B.N. KARIA Date : 07/03/2018 ORAL ORDER (PER : HONOURABLE MR.JUSTICE AKIL KURESHI) Issues are common in all the appeals. We may refer to facts from Tax Appeal No.151/2018. Revenue is in appeal against the judgment of the Income Tax Appellate Tribunal dated 12.4.2017 raising the following questions for our consideration : “(A) Whether the findings of the Appellate Tribunal are perverse as it has ignored the relevant material/evidence and relied on irrelevant material? (B) Whether the Appellate Tribunal erred in law and on facts by not invoking the provisions of section 292C of the IT Act which raises a presumption that the content of seized documents are true? (C)Whether the Appellate Tribunal has erred in law and on facts in deleting the addition of Rs.5,87,250/- made by Assessing Officer as unaccounted interest income? (D) Whether the Appellate Tribunal has erred in law and on facts in deleting the addition of Rs.46,91,750/- made by the Assessing Officer on the basis of peak credit mentioned in the impounded seized diary by not appreciating that these did not relate to USCKP but were related to the personal money lending business of the assessee? (E) Whether the Appellate Tribunal has erred in law and on facts in deleting the addition of Rs. 15,00,000/- being amount received during the year from Nicol land transaction recorded in the diaries seized from the residence of the assessee?” First two questions are general in nature. Substantial questions are C, D and E. We have perused the orders on record with the assistance of the learned counsel fro the Revenue and noticed that the issues are based on concurrent findings of fact by CIT(Appeals) and the Tribunal. No question of law arises, Tax Appeals are dismissed. (AKIL KURESHI, J.) raghu (B.N. KARIA, J.)