https://www.taxtmi.com/caselaws?id=373436 The High Court dismissed the appeal concerning the interpretation of Section 69C of the Income Tax Act, emphasizing the importance of respecting the Tribunal's factual findings. The Court highlighted that under Section 260A, it cannot override the Tribunal's findings unless they are based on perverse facts. In this case, the Tribunal's acceptance of the assessee's explanation for the expenditure was deemed plausible, leading to the dismissal of the appeal. The judgment reaffirmed the Court's limited role in reevaluating factual determinations and reiterated the significance of factual findings in matters related to unexplained expenditure under Section 69C. en-us Thu, 13 Dec 2018 00:00:00 +0530 Sat, 12 Jan 2019 07:02:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373436 The High Court dismissed the appeal concerning the interpretation of Section 69C of the Income Tax Act, emphasizing the importance of respecting the Tribunal's factual findings. The Court highlighted that under Section 260A, it cannot override the Tribunal's findings unless they are based on perverse facts. In this case, the Tribunal's acceptance of the assessee's explanation for the expenditure was deemed plausible, leading to the dismissal of the appeal. The judgment reaffirmed the Court's limited role in reevaluating factual determinations and reiterated the significance of factual findings in matters related to unexplained expenditure under Section 69C. Case-Laws Income Tax Thu, 13 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373436