| The Tax Publishers2020 TaxPub(DT) 4212 (SC) : (2020) 272 TAXMAN 0103 INCOME TAX ACT, 1961
Section 261 Section 69A
Where the Department preferred SLP to appeal against the judgment of Bombay High Court in Pr. CIT v. Mubarak Kasam Momin 2019 TaxPub(DT) 1216 (Bom-HC), whereby the High Court held that the source of gift, genuineness as well as creditworthiness of the donor were duly established. Moreover, thus, the entire issue was based on facts, Revenue did not seem to have raised any objection before the CIT(A) regarding placing reliance on additional evidence and in any case, the documents produced by assessee were from revenue itself or in the nature of bank statements, however, if AO, who was admittedly participating in the appeal proceedings, wanted to rebut such evidence, he could have insisted for such an opportunity being granted, the Supreme Court dismissed the SLP as withdrawn due to low tax effect, however, leaving question of law open.
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Appeal (Supreme Court) - Special leave petition - Income from undisclosed sources - Addition under section 68--Validity of addition
Department preferred SLP to appeal against the judgment of Bombay High Court in Pr. CIT v. Mubarak Kasam Momin 2019 TaxPub(DT) 1216 (Bom-HC), whereby the High court held that the source of gift, genuineness as well as creditworthiness of the donor were duly established. Moreover, thus, the entire issue was based on facts, Revenue did not seem to have raised any objection before the CIT(A) regarding placing reliance on additional evidence and in any case, the documents produced by assessee were from revenue itself or in the nature of bank statements, however, if AO, who was admittedly participating in the appeal proceedigns, wanted to rebut such evidence, he could have insisted for such an opportunity being granted.Held: Counsel for the petitioner, on instructions, issued by the Department of Revenue, Ministry of Finance vide F. No. 390/Misc./116/2017-JC, dated 22-8-2019, sought permission to withdraw this Special Leave Petition along with pending applications therein due to low tax effect. Permission was granted, subject to just exceptions. The special leave petition and pending applications were dismissed as withdrawn, leaving question of law open, the Supreme Court dismissed the SLP as withdrawn due to low tax effect, however, leaving question of law open.
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