Concurrent findings of genuine sales and disclosed books barred interference; income was not treated as undisclosed income.

Concurrent findings that the sales were genuine and supported by purchase and transportation evidence were left undisturbed because no perversity was shown, so no substantial question of law arose in appeal. The Court also applied the principle that income already reflected in the regular books cannot be treated as undisclosed income for block assessment. Reliance on a statement recorded in another search did not justify interference. The Revenue's challenge was therefore rejected and the appeal was not entertained.

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Issues: Whether the Tribunal was correct in upholding the finding that the sales were not bogus and that the claimed deduction was allowable; and whether the alleged income could be treated as undisclosed income for block assessment.

Analysis: The authorities below recorded concurrent findings that the sales to the concerned concerns were genuine, supported by purchase entries and transportation evidence, and that the income had been disclosed in the regular books for the relevant assessment years. On those facts, the Court found no perversity in the factual findings and held that the reliance on the statement recorded in another search did not warrant interference. It further applied the settled principle that income already reflected in the regular accounts cannot be treated as undisclosed income for block assessment under the relevant provisions.

Conclusion: The question proposed did not give rise to any substantial question of law and was not entertained. The appeal was dismissed.

Final Conclusion: Concurrent factual findings regarding genuineness of sales and disclosure in regular accounts were left undisturbed, resulting in rejection of the Revenue's challenge.

Ratio Decidendi: Concurrent findings of fact, unless shown to be perverse, do not raise a substantial question of law in appeal under Section 260A, and income disclosed in regular books cannot be treated as undisclosed income for block assessment.

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