TaxTMI 
TaxTMI 
2026 (9) TMI 1340
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.... CHIEF JUSTICE AND HON'BLE MRS. JUSTICE K.S. HEMALEKHA For the Appellants : SRI. Ravi Raj Y.V., Advocate For the Respondent : Sri. Shreehari Kutsa, Advocate ORAL JUDGMENT PER: HON'BLE MR. VIBHU BAKHRU, CHIEF JUSTICE: 1. The Revenue has filed the present appeal under Section 260A of the Income Tax Act, 1961 [Act] impugning the order dated 31.07.2025 passed by the learned Inco....
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....p of the said seized documents are not denied, cheque part of the consideration is tallied with the registered sale deed and the Director of the assessee company admitting the contents of the loose sheet and as such, the order of the Tribunal is perverse?" 4. The Assessee had filed its original return of income on 17.10.2016 declaring Nil income. A search was conducted in the premises of the As....
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.... certain figures. The said loose sheet contained scribblings by the Chief Financial Officer [CFO] of the Assessee, Sri B.V. Vijendra. He was confronted with the said loose sheets and in his statement, stated that the figures mentioned therein were intended to represent the loan calculation for the purpose of purchase of a property acquired by the Assessee. It is stated that subject property was ac....
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....sheet, which were not corroborated by any other material or evidence to suggest that any cash had been paid. No evidence or material was found to indicate that any funds other than amount as reflected in the sale deed had paid. 10. The Assessee had preferred an appeal under Section 250 of the Act before the learned Commissioner of Income Tax (Appeals)11, Bengaluru [CIT(A)]. In this regard, the ....