https://www.taxtmi.com/caselaws?id=212366 The High Court dismissed the Tax Appeal, affirming the Tribunal's decision that the diamonds purchased by the assessee from an undisclosed source were actually from disclosed sources and fully accounted for in the books prior to the search operation. The Court found the Tribunal's evaluation of evidence convincing, noting the alignment of various factual aspects supporting the assessee's position. The Assessing Officer's differing view was deemed insufficient to overturn the Tribunal's decision, leading to the dismissal of the appeal due to the absence of any substantial legal question. en-us Mon, 09 May 2011 00:00:00 +0530 Sun, 15 Apr 2012 17:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212366 The High Court dismissed the Tax Appeal, affirming the Tribunal's decision that the diamonds purchased by the assessee from an undisclosed source were actually from disclosed sources and fully accounted for in the books prior to the search operation. The Court found the Tribunal's evaluation of evidence convincing, noting the alignment of various factual aspects supporting the assessee's position. The Assessing Officer's differing view was deemed insufficient to overturn the Tribunal's decision, leading to the dismissal of the appeal due to the absence of any substantial legal question. Case-Laws Income Tax Mon, 09 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212366