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2013 (11) TMI 663

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.... Bhalla, j. (Oral) The revenue is before us challenging order dated 30.11.1998, passed by the Income Tax Appellate Tribunal, Delhi Bench 'B', New Delhi (hereinafter referred to as the 'Tribunal'). The following question of law was framed while admitting the appeal: - "Whether in the facts and circumstances of the case, the deletion made by the Income-tax Appellate Tribunal from the additions mad....

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....erred to in the diary. Counsel for the assessee submits that as question framed by the revenue is based upon a factual appreciation of entries in the diary, no question of law much less a substantial question of law arises for adjudication. It is further submitted that the Tribunal has recorded a clear finding that revenue was unable to controvert entries in the diary, the Tribunal has rightly ac....

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....ates to the period from 9th May 1987 to 31st March, 1988 in respect of purchases and sales of empty bags, seeds, grease and diesel. The assessee has given detailed explanation about the entries recorded on each page of the diary in its letter dated 25th October 1993 placed at page 132 to 145 of the paper book and having gone through the explanation given about each entry recorded in the diary, we ....

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.... given at page 130 to 145, that the investment made in the business claimed to be of Sandeep Kumar has been shown at Rs.15,101/-. There is however, neither any explanation offered nor any evidence produced about the source of such investment in the business. It is rather claimed that this amount was personal savings of Sandeep Kumar but there is no evidence led to establish that he had in his poss....