2017 (2) TMI 1126

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.... appeals are being heard and decided by this order. 2. For the sake of convenience, the pleadings and documents available in the record of ITA No.13/2017 are being referred to in this order. In fact the Appellate Authorities have passed a common order in all the cases while rejecting the appeals filed by the Revenue. 3. Assessee is a non-banking financial institute registered with the Reserve Bank of India and the main business activity of the assessee is to issue multi-city cheques which are usually of an amount less than Rs. 50,000/-. The cheques so issued are encashable anywhere in the country. In fact the assessee accepts cash from the customers and provides service by remitting the amount through banking channels and charges some com....

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....on to certain judgments of the Hon'ble Supreme court in the case of Tek Ram (Dead) Through Lrs vs. Commissioner of Income Tax, (2013) 262 CTR 0118 (SC), Commissioner of Income Tax vs. Shiya Dawoodi Bohara Jamat, a judgment by Division Bench of this Court at Indore reported in (2008) 304 ITR 0336 and a judgment of the Madras High Court in the case of Commissioner of Income Tax vs. Subbu Shashank, (2011) 238 CTR 0051 in support of his contention to say that when additional evidence is taken on record at the appellate stage without hearing and granting opportunity to the assessing officer, action taken is unsustainable, accordingly he submits that a substantial question of law arises for consideration and, therefore, on this count the appe....

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.... the additional evidence adduced in detail the learned Commissioner (Appeals) has decided the appeal and allowed the deductions. 7. We find from the detailed order, passed, that the assessing officer appeared before the Commissioner (Appeals) and raised various objections, these have been analyzed by the learned appellate authority in detail. Thereafter when the matter traveled to the appellate Tribunal, the Tribunal has again reassessed the matter and after taking note of the reasons which were considered by the assessing officer and reconsidered at the appellate stage by the Commissioner (Appeals), in para 8.1, the learned Tribunal decided the matter in the following manner : "8.1 From the order of CIT (A), we noted that the CIT(A) aft....

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....t pursue the matter further. The Revenue did not examine the source of income of the said alleged creditors to find out whether they were creditworthy. There was no effort made to pursue the so-called alleged creditors. In those circumstances, the respondent could not do anything further. In the premises, if the Tribunal came to the conclusion that the respondent had discharged the burden that lay on it, then it could not be said that such a conclusion was unreasonable or perverse or based on no evidence. If the conclusion was based on some evidence on which the conclusion could be arrived at, no question of law as such arose. The High Court was right in refusing to state a case." 8. From the aforesaid, it is clear that in the matter of p....