2022 (2) TMI 494

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....e For the Respondent: None Appeared ORDER Per Hon'ble Sri Justice Ujjal Bhuyan Heard Mr. Vijay Kumar Punna, learned counsel for the appellant. 2. This appeal has been preferred by the assessee, as the appellant, under Section 260A of the Income Tax Act, 1961 (briefly 'the Act' hereinafter) against the order dated 28.06.2021 passed by the Income Tax Appellate Tribunal, Hyderabad Bench ....

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.... from his salary since 2006 and also 1/3rd savings of his son since 2011. This explanation was not accepted by the Assessing Officer on the ground that it was difficult to believe that such savings were kept at home over so many years. In addition, a further sum of Rs. 2.75 lakhs was also found to be unexplained. Therefore, the Assessing Officer added a sum of Rs. 12,75,000.00 to the returned inco....

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....ore the Tribunal, Tribunal held as follows: "We have considered the rival submissions and perused the material on record as well as gone through the orders of revenue authorities. The CIT(A) demonstrated in his order that the assessee does not have sufficient money to pay monthly chit installments by way of recording his statement u/s 131 of the Act and examining the bank statements, further obs....

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....0/- made by the AO u/s 69A of the Act and therefore, upholding the order of the CIT(A), we dismiss the ground raised by the assessee on this issue." 7. On due consideration, we do not find any error or infirmity in the view taken by the Tribunal. Besides, there is concurrent finding of fact. No question of law arises from the said order of the Tribunal, not to speak of any substantial question of....