- (1.) The Court : The appeal is directed against a judgement and order dated 5th October, 2015 passed by the Income Tax Appellate Tribunal "C" Bench, Kolkata in ITA no.407/Kol/2015 pertaining to the assessment year 2010 -11.
(2.) Aggrieved by the order of the learned Tribunal, the revenue has come up in appeal. The question of law suggested by Ms. Das De, learned advocate for the appellant/revenue, is as follows: ""Whether on the facts and in the circumstances of the case the Learned Tribunal was justified in law in not deciding the merits of the case and the applicability of Section 68 of Income Tax Act and arrived at a finding which is contrary to the evidence on record thus giving rise to perversity."
(3.) It appears that nearly a sum of Rs. 4 crores was found credited to the books of accounts of the assessee allegedly on account of advance received from the buyers of motor cycles. The Assessing Officer was of the opinion that a bogus liability was created and he, therefore, added the amount to the income of the assessee.;