2013 (5) TMI 884

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....these appeals challenging the common judgment of the Income Tax Appellate Tribunal dated 14.12.2012. For the purpose of this order, we may record facts as arising in Tax Appeal No. 422/2013. In the said case for the assessment year 2001-02, Revenue has framed the following questions for our consideration : "(A) Whether in the circumstances and the facts of the case and in law, the Appella....

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....s found credited in the bank account of the respondent assessee for which the assessee could not render satisfactory explanation at the outset. Assessee carried the matter in appeal. In the appellate proceedings, the Commissioner admitted additional evidence after calling for remand report. On the basis of such additional material and other materials on record, CIT(Appeals) reversed the decision o....

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....o laid on his record but the assessing authority has not offered any comments thereon in remand proceedings. The AO did not bring any adverse material to show that the recovery of such advances from those persons is not real nor he was able to show that the transactions so stated for making of advances and recovery thereof is not in agreement with the entries recorded in bank statement that were l....

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.... of aggregate deposits appearing in the bank account of the assessee and his family members. He, therefore, was satisfied on facts with the explanation thereon. In the absence of any adverse material, the deletion of addition for such reasoning does not call for any interference." 3. From the above discussion, it can be seen that the entire issue is based on appreciation of facts. CIT(Appeals) ....