TaxTMI 
TaxTMI 
2026 (8) TMI 1112
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....res; [ii] The sources of the unaccounted investment made in various assets referred to in the assessment order; [iii] The income from the running petrol pump known as M/s Anjali Petrol Pump?" 3. Tax Appeals No. 2215/2009 and 2216/2009 are admitted by separate orders dated 02.05.2011 for consideration of following substantial questions of law: "Whether the Appellate Tribunal is right in law and on facts in disposing of the appeal before it on the ground that it had quashed the order passed by the CIT [A] under Section 263 of the Income-tax Act ?" 4. Tax Appeal No. 886 of 2009 is filed by the Revenue being aggrieved by the Judgment and Order dated 21.11.2008 passed by the Income Tax Appellate Tribunal, Ahmedabad, in IT(SS)A No. 184/Ahd/2003 setting aside the order dated 13.03.2003 of the CIT (Appeals) passed under section 263 of the Income Tax Act, 1961, [for short' the Act'] except with respect to the Issue No. 3 which relates to investigation/ enquiries with respect to the source of acquisition of 19 tankers claiming by the assessee to be belonging to it and income from the business of running of such tankers and setting aside running of such tanker....
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.... consider income generated by two petrol pumps, i.e. (i) Anjali Petrol Pump and (ii) Rama Automobiles, which belonged to the assessee, as per the incriminating documents seized during the course of search. 5.9 The CIT(Central)-I, passed the order dated 13.03.2003 under section 263 of the Act after considering the submissions of the assessee by restoring the aforesaid four issues to the Assessing Officer with a direction to determine in accordance with law the undisclosed income of the assessee in respect of these issues. 5.10 Being aggrieved, the assessee preferred IT (SS)A No. 184/Ahd/2003 before the Tribunal. 5.11 The Tribunal, by impugned order dated 21.11.2008, partly allowed the appeal of the assessee by observing as under: "19. So far as present case is concerned, we, in view of facts and circumstances of the case, are of the opinion that the Assessing Officer having considered all the issues raised by the CIT as per its notice dated 21/02/2002, except investigation with respect to 19 tankers claimed to be owned by the assessee, and having duly investigated and enquired into and considered all the issues, it cannot be said that his....
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.... order passed under section 263 of the Act 5.14 The Assessing Officer passed an order dated 30.03.2004 under section 158BC read with section 263 of the Act and assessed total undisclosed income and investment of Rs. 10,90,05,780/- as under: In Rs. Income as per the order u/s. 250 dated 31.3.2003 55,00,000 Add Unaccounted expenditure 5,20,00,000 Unaccounted investments 4,00,74,349 Unaccounted investments in Tankers and Income thereof 1,10,59,931 Unaccounted income from the Anjali Petrol Pump 3,71,500 Total undisclosed income and investment 1,09,00,5780 5.15 Being aggrieved by the aforesaid order, the assessee preferred an appeal before CIT(Appeals). The CIT(Appeals) vide order dated 17.06.2004, deleted the addition of Rs. 1,10,59,931/- pertaining to the tankers. 5.16 Being aggrieved by the order of the CIT(Appeals), Cross-appeals, being IT(SS) A No. 220/2004 and 241/2004, were preferred by the Revenue as well as the assessee before the Tribunal. The Tribunal dismissed the appeal of the Revenue and allowed the appeal of the assessee by order dated 12.12.2008. 5.17 Being aggrieved by the ....
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....f expenses of Rs. 21 lakh claimed by assessee. The Assessing Officer disallowed the expenditure to the extent of Rs. 7 lakh on the ground that same was spend for paying bribe. CIT(Appeals) as well as tribunal however found that there was no such evidence on record. Tribunal confirmed view of CIT(Appeals) in which it was observed that these expenses have not been claimed as revenue expenditure by assessee. Issue being entirely factual in nature and the conclusion of CIT(Appeals) as well as tribunal being based on evidence on record, we do not find any question of law arising. Tax Appeal is therefore, dismissed." ORDER passed in Tax Appeal No. 2280/2009 1. Revenue is in appeal against the judgement of the Tribunal dated 19.12.2008, raising the following questions for our consideration: "[A] Whether the Appellate Tribunal is right in law and on facts in reversing the order passed by CIT (A) and thereby allowing the assessee's appeal against the additional income of Rs. 55,00,000/- (out of Rs. 1,10,00,000/- shared equally with Shri Rishabh G. Jain)? [B] Whether the Appellate Tribunal is right in law and on facts in reversing the order pa....