2015 (1) TMI 1203

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.... F. V. Irani with Ms. Neeta Rajda, instructed by Dsr Associates, for the respondent. JUDGMENT 1. This appeal by the Revenue under section 260A of the Income-tax Act, 1961 ("the Act"), challenges the order dated December 23, 2011, passed by the Income-tax Appellate Tribunal ("the Tribunal") for the assessment year 1994-95. 2. The following question of law has been raised for our conside....

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....f the Act by the order dated March 30, 2006, of the Assessing Officer. This notwithstanding the respondent-assessee denying having made any payment to Captain Satish Sharma. 4. On appeal by the respondent-Revenue, the Commissioner of Income- tax (Appeals) by order dated March 31, 2008, allowed the appeal. This after recording the fact that the copies of the statement being relied upon by the Re....

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....e of Essar Oil Ltd. (I. T. A. No. 5141/Mum/2003), it was found that on cross- examination, the Additional Private Secretary of Captain Satish Sharma retracted his earlier statement. Thus, following its decision in Essar Oil Ltd. (supra), the order of the Commissioner of Income-tax (Appeals) dated March 31, 2008, in the respondent-assessee's case, was upheld. 6. The grievance of appellant-Re....

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....iling of charge-sheet by itself does not establish the payment of Rs. 2 crores by the respondent-assessee to Captain Satish Sharma and particularly when the proceedings itself resulted in acquittal of Captain Satish Sharma by the trial court. The State then preferred a revision application against the order of acquittal and the Delhi High Court in Criminal Revision Petition No. 33 of 2001 reported....