Principal Commissioner of Income-tax, Central–2 v. Centaur Mercantile Pvt. Ltd
[Citation -2019-LL-0715-33]

Citation 2019-LL-0715-33
Appellant Name Principal Commissioner of Income-tax, Central–2
Respondent Name Centaur Mercantile Pvt. Ltd.
Relevant Act Income-tax
Date of Order 15/07/2019
Judgment View Judgment
Keyword Tags material on record • sale consideration • sworn statements • question of law • on money

IN HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1646 OF 2016 Principal Commissioner of Income Tax, Central 2 Appellant versus M/s. Centaur Mercantile Pvt. Ltd. Respondent Mr. Suresh Kumar, for Appellant. CORAM: AKIL KURESHI & S.J. KATHAWALLA, JJ. DATE: 15th JULY, 2019 P.C.: 1. This Appeal is filed to challenge Judgment of Income Tax Appellate Tribunal ( Tribunal for short). following question is presented for our consideration : (i) Whether on facts and circumstances of case and in law, Hon'ble ITAT was correct in not considering sworn statements given by employees impromptu that assessee company is engaged in taking 30% on money for sale consideration of commercial spaces/residential flats ? 2. We have perused record with assistance of learned Counsel for Revenue. Assessment Officer had made additions with aid of statements of employees of assessee's company which was subject to search. However, Commissioner of Income Tax (Appeals) were of opinion that there was no SSP 1/2 27 itxa 1646 of 2016.doc material on record to sustain additions. In particular, Tribunal while confirming view of Commissioner of Tax (Appeals), noted that except for statements of said employees, there was no other material of involvement of on money. employees had also recorded their statements. We see no error in concurrent findings of facts by CIT (Appeals) and Tribunal. No question of law arises. Income Tax Appeal is dismissed. ( S.J.KATHAWALLA, J. ) ( AKIL KURESHI, J. ) SSP 2/2 Principal Commissioner of Income-tax, Central2 v. Centaur Mercantile Pvt. Ltd
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