2005 (3) TMI 69

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....ubstantial question of law within the meaning of section 260A of the Act? Heard Shri P.M. Choudhary, learned counsel for the appellant. Having heard learned counsel for the appellant and having perused the record of the case, I find absolutely no merit in this appeal which merits dismissal in limine. It is a search case in the premises of the assessee-a businessman. In this search operation, apart from other, a sum of Rs. 12,62,000 in cash was also seized. It is this seizure of cash which is the subject-matter of this appeal. The question was whether the assessee was able to explain its source and whether it is liable to be taxed in his hands as an income from unexplained source. This question was examined in block assessment cases....

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....uired to be decided on factual explanation and the nature of evidence (oral/documentary) tendered by the assessee in the assessment proceedings before the taxing authorities. It is for the Assessing Officer, the Commissioner of Income-tax (Appeals) and lastly the Tribunal to go into explanation, its worth, extent, adequacy, reliability and then record a finding as to whether the source for the money seized was properly explained so as to include the same in the hands of the assessee or exclude as the case may be. Largely, therefore, it does not involve any legal interpretation or legal debate as such for deciding this question but it involves appreciation of evidence and its worth. Any factual finding once recorded and consistently uphel....