D.A Mehta, J.:— The appellant-Revenue has proposed the following question:
“Whether the Appellate Tribunal is right in law and on facts in confirming the order passed by the Commissioner of Income-tax (Appeals) in deleting the addition of Rs. 8,33,500 made under section 68 of the Income-tax Act, 1961, as explained cash credits?”
2. Heard learned standing counsel for the appellant.
3. She has reiterated the reasons which prompted the Assessing Officer to make addition of Rs. 8,33,500.
4. Admittedly, for the assessment year 1996-97 the Assessing Officer made an addition of Rs. 8,33,500 under section 68 of the Income-tax Act, 1961 (the Act). The assessee carried the matter in appeal before the Commissioner (Appeals) and succeeded. When the Revenue filed an appeal before the Tribunal the addition was deleted by recording the following findings:
“7. We have heard the rival submissions, perused the orders of lower authorities and the materials available on record. We find that the Assessing Officer has treated the cash credits from 9 depositors totalling to Rs. 8,33,500 as not genuine and has made the addition of the same to the income of the assessee under section 68 of the Act. We find that the assessee has filed evidence before the Commissioner of Income-tax (Appeals) in the form of affidavits of the depositors, their bank statements and has also stated that the Assessing Officer has rejected the same based on minor mistakes in respect of the mode of payment and holding that the party was not having enough source. We find that the learned Commissioner of Income-tax (Appeals) has observed that the Assessing Officer has not contradicted the amount paid by the depositors which were genuinely transferred from the bank accounts to the assessee. The parties have submitted the evidence to prove the cash credits. The Assessing Officer has accepted the genuineness of the persons and the transactions. The transactions are through banking channel. The learned Commissioner of Income-tax (Appeals) has further observed that four creditors residing at America could not appear before the Assessing Officer but their affidavits were filed except for non-appearance of the creditors, the Assessing Officer has not doubted the genuineness of the transaction, creditworthiness of the depositors, etc., the learned Commissioner of Income-tax (Appeals) has deleted the addition made on the ground that the parties are genuine and the creditworthiness has been proved beyond doubt and the transactions are through banking channels. The learned Departmental representative could not controvert the findings of the learned Commissioner of Income-tax (Appeals) by bringing any relevant, cogent and positive material on record. In these circumstances, we are of the considered opinion that there are no good and justifiable reasons to interfere with the order of the Commissioner of Income-tax (Appeals). It is confirmed and the ground of appeal of the Revenue is dismissed.”
5. Thus it is apparent that the genuineness of the transactions and the identity of the depositors have been established and nothing has been brought on record to contradict the findings of fact recorded by the Commissioner (Appeals) as noted by the Tribunal. In the circumstances, the issue being a pure issue of facts and appreciation of evidence, no question of law, much less a substantial question of law, as proposed or otherwise, arises out of the impugned order of the Tribunal. Hence, the appeal is dismissed.