https://www.taxtmi.com/caselaws?id=371363 In an appeal under section 260A, the HC held that factual findings based on an independent appraisal of the assessment record will not be interfered with unless they are perverse or legally infirm. The ITAT had examined the assessee's failure to answer specific queries, the lack of proof of commission payments and transportation charges, the improbability of the commercial arrangement, and third-party material gathered by the Assessing Officer. Although the CIT(A) had wide powers under section 250 to consider material, that could not displace the ITAT's reasoned conclusion that the transactions were not genuine. The deletion made by the CIT(A) was therefore not restored, and the Revenue's position was upheld. en-us Mon, 26 Nov 2018 00:00:00 +0530 Wed, 15 May 2019 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371363 In an appeal under section 260A, the HC held that factual findings based on an independent appraisal of the assessment record will not be interfered with unless they are perverse or legally infirm. The ITAT had examined the assessee's failure to answer specific queries, the lack of proof of commission payments and transportation charges, the improbability of the commercial arrangement, and third-party material gathered by the Assessing Officer. Although the CIT(A) had wide powers under section 250 to consider material, that could not displace the ITAT's reasoned conclusion that the transactions were not genuine. The deletion made by the CIT(A) was therefore not restored, and the Revenue's position was upheld. Case-Laws Income Tax Mon, 26 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371363