Fair consideration of seized documents required when the assessee lacked full access to material and explanation was not examined on merits.

The Tribunal was required to assess the explanation for seized loose papers on merits, because the record indicated that the revisionist did not have full access to the documents at the relevant stage. The explanation, including the material concerning specific parchas, was placed before the Tribunal, but it rejected the case summarily as an afterthought without dealing with its substance. Since the Tribunal, as the final fact-finding authority, had to consider the explanation fairly and on the available material, that rejection could not be sustained. The matter therefore required fresh reconsideration by the Tribunal.

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Issues: Whether the Tribunal was justified in rejecting the explanation relating to the seized loose papers as an afterthought without properly considering the material and the opportunity available to the revisionist.

Analysis: The order retaining the seized loose papers till disposal by the first appellate authority showed that the revisionist did not have full access to the documents at the relevant stage. The explanation regarding the seized material was thereafter submitted, including in relation to specific parchas. The Tribunal, as the final fact-finding court, was required to consider that explanation on merits, but instead rejected it summarily as an afterthought without dealing with the substance of the revisionist's case.

Conclusion: The rejection of the explanation could not be sustained, and the matter required reconsideration by the Tribunal afresh.

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