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TAXAP/2211/2009 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No. 2211 of 2009
=================================================
COMMISSIONER
OF INCOME TAX-I - Appellant(s)
Versus
ADITI
EXPORTS PVT LTD - Opponent(s)
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Appearance
:
MR MR BHATT,
SR.ADV. with MRS
MAUNA M BHATT for Appellant(s) : 1,
None for Opponent(s) :
1,
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CORAM
:
HONOURABLE
MR.JUSTICE AKIL KURESHI
and
HONOURABLE
MS JUSTICE SONIA GOKANI
Date
: 27/04/2011
ORAL
ORDER
(Per
: HONOURABLE MR.JUSTICE AKIL KURESHI)
1. Revenue
is in appeal against the judgment of the Tribunal dated 22.5.2009
raising following questions in the present appeal:-
“[A] Whether
the Appellate Tribunal is right in law and on facts in confirming the
order passed by CIT(A) and deleting the disallowance of
Rs.2,09,75,000/- made on account of unexplained cash credit u/s.68 of
the I.T. Act?
[B] Whether the
Appellate Tribunal is right in law and on facts in confirming the
order passed by the CIT(A) in deleting the disallowance of
depreciation of Rs.61,27,192/- made on account of plant and
machinery?”
[C] Whether the
Appellate Tribunal is right in law and on facts in confirming the
order passed by CIT(A) in deleting the addition of Rs.1,23,97,183/-
made on account of excess cost of purchase of raw-material?”
2. Counsel
for the Revenue, however, pointed out that the questions [A] and [B]
do not arise in the present appeal.
3. With
respect to sole surviving question [C], we have examined the orders
on record with the assistance of the learned counsel for the Revenue.
We find that the CIT (Appeals) as well as the Tribunal both, on
available evidence on record and appreciation of evidence, were of
the opinion that there was no evidence for presumption of recovery to
the extent of 65%. It was found that the assessee had produced all
the records justifying the consumption of material, production
obtained and yield therefrom. Entire issue being factual in nature
and having been considered by the CIT(Appeals) as well as the
Tribunal, we do not find any substantial question of law arising in
this appeal. Tax Appeal is dismissed.
(Akil
Kureshi, J. )
(Ms.
Sonia Gokani, J.)
sudhir
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