2017 (5) TMI 311

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....Raghenth Basant, Sr.Adv. Ms.Aanchal Tikmani, Adv. Mr.Mischal Johari, Adv. Ms.Liz Mathew, Adv. For Respondent : Mr.K.Radhakrishnan, Sr.Adv. Mr.A.K. Srivastava, Adv. Mrs.Anil Katiyar, Adv. Mr.Abhinav Mukherjee, Adv. ORDER Leave granted. Heard Mr.Raghenth Basant, learned counsel for the appellant and Mr.K.Radhakrishnan, learned senior counsel for the respondent. The present appeals by ....

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....e Income Tax Act, 1961. Additionally, it is urged by him that the vendor filed revised returns after the raid stating, inter alia, that he had received more money from the purchaser for the land in municipal area in question and on the basis of the said revised returns the assessee cannot be fastened with the liability. Learned counsel would submit that as assessment had been completed and, theref....

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....s have been recorded written on the basis of the sworn affidavits in the statement. We are not satisfied with the analysis made by the Tribunal or that by the High Court. In our considered opinion this material on record should have been adverted to by the Tribunal as the final fact finding authority in a proper perspective keeping in view the law in the field. In view of the aforesaid conclusi....