Commissioner Of Income-Tax, West v. Brij Lal Lohia And Mahabir Prasad

84 ITR 273Supreme Court of India1972#6255 most cited
19

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Sections most often in play

Section 115BBESection 132Section 133ASection 142(1)Section 143(1)Section 153CSection 269SSSection 269T

Judgments citing Commissioner Of Income-Tax, West v. Brij Lal Lohia And Mahabir Prasad

SHRI GANESH BHIVRAJ BHUTADA,PUNE vs. ACIT, CENTRAL CIRCLE1(1), PUNE, PUNE

In the result, both the appeals of the assessee are allowed for statistical purposes

ITA 1132/PUN/2024[2018-19]Status: DisposedITAT Pune06 Mar 2025AY 2018-19

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Appellant: Shri V Narendra Sharma, AdvocateFor Respondent: Shri Amol Khairnar, CIT-DR
Section 132Section 132(4)Section 133ASection 143(1)Section 143(2)Section 153C

…sufficient to prove that the assessee has indulged in transactions outside its books. 20. He also relied on the following decisions: i) Raja Bahadur Visheshwara Singh vs. CIT (1961) 41 ITR 685 (SC) ii) CIT vs. Brij Lal Lohia and Mahabir Prasad Khemka (1972) 84 ITR 273 (SC) iii) CIT vs. Kalpetta Estates Ltd. (1995) 211 ITR 634 (Ker) iv) ITO vs. Ramachandra Setty and Sons vide ITA Nos.1156 & 1163 to 1166/Bang/2023, order dated 10.06.2024 v) Vinit Ranawat vs. ACIT (2015) 173 TTJ 414 (Pune – Trib.) 21. He accordingly submitted that the addition made by the Assessing Officer and sustained by the Ld. CIT(A) being no…

SHRI GANESH BHIVRAJ BHUTADA,PUNE vs. ACIT, CENTRAL CIRCLE1(1), PUNE, PUNE

In the result, both the appeals of the assessee are allowed for statistical purposes

ITA 1131/PUN/2024[2017-18]Status: DisposedITAT Pune06 Mar 2025AY 2017-18

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Appellant: Shri V Narendra Sharma, AdvocateFor Respondent: Shri Amol Khairnar, CIT-DR
Section 132Section 132(4)Section 133ASection 143(1)Section 143(2)Section 153C

…sufficient to prove that the assessee has indulged in transactions outside its books. 20. He also relied on the following decisions: i) Raja Bahadur Visheshwara Singh vs. CIT (1961) 41 ITR 685 (SC) ii) CIT vs. Brij Lal Lohia and Mahabir Prasad Khemka (1972) 84 ITR 273 (SC) iii) CIT vs. Kalpetta Estates Ltd. (1995) 211 ITR 634 (Ker) iv) ITO vs. Ramachandra Setty and Sons vide ITA Nos.1156 & 1163 to 1166/Bang/2023, order dated 10.06.2024 v) Vinit Ranawat vs. ACIT (2015) 173 TTJ 414 (Pune – Trib.) 21. He accordingly submitted that the addition made by the Assessing Officer and sustained by the Ld. CIT(A) being no…

M/S. ODISHA POWER GENERATION CORPORATION LIMITED,BHUBANESWAR vs. DCIT,CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

ITA 131/CTK/2019[2014-15]Status: DisposedITAT Cuttack12 Sept 2022AY 2014-15

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

For Appellant: S/Shri Dilip Kr. Mohanty/Pradyumna Kumar Sahu

…ed before the Tribunal. It was the submission that the res-judicata does not apply to the Income tax proceedings. He placed reliance on the decision of Hon’ble Supreme Court in the case of Commissioner Of Income-Tax, West vs Brij Lal Lohia And Mahabir Prasad, 84 ITR 273 (SC) as also the decision in the case of New Jehangir Vakil Mills Co. Ltd. v. CIT [1963] 49 ITR 137 (SC). It was the submission that the disallowance made by the AO and confirmed by the ld CIT(A) is liable to be deleted. P a g e 36 | 52 OPGC 44. We have considered the rival submissions. At the outset, it is an admitted fact that this amount whi…

M/S. ODISHA POWER GENERATION CORPORATION LIMITED,BHUBANESWAR vs. DCIT,CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

ITA 130/CTK/2019[2013-14]Status: DisposedITAT Cuttack12 Sept 2022AY 2013-14

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

For Appellant: S/Shri Dilip Kr. Mohanty/Pradyumna Kumar Sahu

…ed before the Tribunal. It was the submission that the res-judicata does not apply to the Income tax proceedings. He placed reliance on the decision of Hon’ble Supreme Court in the case of Commissioner Of Income-Tax, West vs Brij Lal Lohia And Mahabir Prasad, 84 ITR 273 (SC) as also the decision in the case of New Jehangir Vakil Mills Co. Ltd. v. CIT [1963] 49 ITR 137 (SC). It was the submission that the disallowance made by the AO and confirmed by the ld CIT(A) is liable to be deleted. P a g e 36 | 52 OPGC 44. We have considered the rival submissions. At the outset, it is an admitted fact that this amount whi…

M/S. ODISHA POWER GENERATION CORPORATION LTD.,BHUBANESWAR vs. ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

ITA 64/CTK/2017[2009-10]Status: DisposedITAT Cuttack12 Sept 2022AY 2009-10

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

For Appellant: S/Shri Dilip Kr. Mohanty/Pradyumna Kumar Sahu

…ed before the Tribunal. It was the submission that the res-judicata does not apply to the Income tax proceedings. He placed reliance on the decision of Hon’ble Supreme Court in the case of Commissioner Of Income-Tax, West vs Brij Lal Lohia And Mahabir Prasad, 84 ITR 273 (SC) as also the decision in the case of New Jehangir Vakil Mills Co. Ltd. v. CIT [1963] 49 ITR 137 (SC). It was the submission that the disallowance made by the AO and confirmed by the ld CIT(A) is liable to be deleted. P a g e 36 | 52 OPGC 44. We have considered the rival submissions. At the outset, it is an admitted fact that this amount whi…

ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR vs. M/S. ORISSA POWER GENERATION CORPORATION LTD., BHUBANESWAR

In the result, appeal of the assessee is partly allowed

ITA 288/CTK/2016[2011-12]Status: DisposedITAT Cuttack12 Sept 2022AY 2011-12

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

For Appellant: S/Shri Dilip Kr. Mohanty/Pradyumna Kumar Sahu

…ed before the Tribunal. It was the submission that the res-judicata does not apply to the Income tax proceedings. He placed reliance on the decision of Hon’ble Supreme Court in the case of Commissioner Of Income-Tax, West vs Brij Lal Lohia And Mahabir Prasad, 84 ITR 273 (SC) as also the decision in the case of New Jehangir Vakil Mills Co. Ltd. v. CIT [1963] 49 ITR 137 (SC). It was the submission that the disallowance made by the AO and confirmed by the ld CIT(A) is liable to be deleted. P a g e 36 | 52 OPGC 44. We have considered the rival submissions. At the outset, it is an admitted fact that this amount whi…

M/S. ODISHA POWER GENERATION CORPORATION LTD.,BHUBANESWAR vs. DCIT, CIRCLE-1(1), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

ITA 267/CTK/2016[2011-12]Status: DisposedITAT Cuttack12 Sept 2022AY 2011-12

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

For Appellant: S/Shri Dilip Kr. Mohanty/Pradyumna Kumar Sahu

…ed before the Tribunal. It was the submission that the res-judicata does not apply to the Income tax proceedings. He placed reliance on the decision of Hon’ble Supreme Court in the case of Commissioner Of Income-Tax, West vs Brij Lal Lohia And Mahabir Prasad, 84 ITR 273 (SC) as also the decision in the case of New Jehangir Vakil Mills Co. Ltd. v. CIT [1963] 49 ITR 137 (SC). It was the submission that the disallowance made by the AO and confirmed by the ld CIT(A) is liable to be deleted. P a g e 36 | 52 OPGC 44. We have considered the rival submissions. At the outset, it is an admitted fact that this amount whi…

ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR vs. M/S. ODISHA POWER GENERATION CORPORATION LTD., BHUBANESWAR

In the result, appeal of the assessee is partly allowed

ITA 175/CTK/2016[2012-13]Status: DisposedITAT Cuttack12 Sept 2022AY 2012-13

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

For Appellant: S/Shri Dilip Kr. Mohanty/Pradyumna Kumar Sahu

…ed before the Tribunal. It was the submission that the res-judicata does not apply to the Income tax proceedings. He placed reliance on the decision of Hon’ble Supreme Court in the case of Commissioner Of Income-Tax, West vs Brij Lal Lohia And Mahabir Prasad, 84 ITR 273 (SC) as also the decision in the case of New Jehangir Vakil Mills Co. Ltd. v. CIT [1963] 49 ITR 137 (SC). It was the submission that the disallowance made by the AO and confirmed by the ld CIT(A) is liable to be deleted. P a g e 36 | 52 OPGC 44. We have considered the rival submissions. At the outset, it is an admitted fact that this amount whi…

M/S. ODISHA POWER GENERATION CORPORATION LTD.,BHUBANESWAR vs. ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

ITA 173/CTK/2016[2012-13]Status: DisposedITAT Cuttack12 Sept 2022AY 2012-13

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

For Appellant: S/Shri Dilip Kr. Mohanty/Pradyumna Kumar Sahu

…ed before the Tribunal. It was the submission that the res-judicata does not apply to the Income tax proceedings. He placed reliance on the decision of Hon’ble Supreme Court in the case of Commissioner Of Income-Tax, West vs Brij Lal Lohia And Mahabir Prasad, 84 ITR 273 (SC) as also the decision in the case of New Jehangir Vakil Mills Co. Ltd. v. CIT [1963] 49 ITR 137 (SC). It was the submission that the disallowance made by the AO and confirmed by the ld CIT(A) is liable to be deleted. P a g e 36 | 52 OPGC 44. We have considered the rival submissions. At the outset, it is an admitted fact that this amount whi…

M/S. ODISHA POWER GENERATION CORPORATION LTD.,BHUBANESWAR vs. DCIT, CIRCLE-1(1), BHUBANESWAR, BHUBANESWAR

In the result, appeal of the assessee is partly allowed

ITA 84/CTK/2014[2010-11]Status: DisposedITAT Cuttack12 Sept 2022AY 2010-11

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

For Appellant: S/Shri Dilip Kr. Mohanty/Pradyumna Kumar Sahu

…ed before the Tribunal. It was the submission that the res-judicata does not apply to the Income tax proceedings. He placed reliance on the decision of Hon’ble Supreme Court in the case of Commissioner Of Income-Tax, West vs Brij Lal Lohia And Mahabir Prasad, 84 ITR 273 (SC) as also the decision in the case of New Jehangir Vakil Mills Co. Ltd. v. CIT [1963] 49 ITR 137 (SC). It was the submission that the disallowance made by the AO and confirmed by the ld CIT(A) is liable to be deleted. P a g e 36 | 52 OPGC 44. We have considered the rival submissions. At the outset, it is an admitted fact that this amount whi…

DCIT, BHUBANESWAR vs. ORISSA POWER GENERATION CORPORATION LTD, BHUBANESWAR

In the result, appeal of the assessee is partly allowed

ITA 114/CTK/2014[2010-11]Status: DisposedITAT Cuttack12 Sept 2022AY 2010-11

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

For Appellant: S/Shri Dilip Kr. Mohanty/Pradyumna Kumar Sahu

…ed before the Tribunal. It was the submission that the res-judicata does not apply to the Income tax proceedings. He placed reliance on the decision of Hon’ble Supreme Court in the case of Commissioner Of Income-Tax, West vs Brij Lal Lohia And Mahabir Prasad, 84 ITR 273 (SC) as also the decision in the case of New Jehangir Vakil Mills Co. Ltd. v. CIT [1963] 49 ITR 137 (SC). It was the submission that the disallowance made by the AO and confirmed by the ld CIT(A) is liable to be deleted. P a g e 36 | 52 OPGC 44. We have considered the rival submissions. At the outset, it is an admitted fact that this amount whi…

M/S. SOGEFI ENGINE SYSTEMS INDIA PRIVATE LIMITED (FORMERLY KNOWN AS SOGEFI- MNR ENGINE SYSTEMS INDIA PRIVATE LIMITED),BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 6(1)(2), BANGALORE

In the result, all the appeals are dismissed

ITA 2089/BANG/2019[2016-17]Status: DisposedITAT Bangalore15 Jul 2021AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Venkatesh Kumar, AdvocateFor Respondent: Shri Priyadarshi Mishra, Addl.CIT(DR)(ITAT), Bengaluru
Section 143(1)

…different conclusion if there is adequate justification to depart from the earlier view i.e., where subsequently new or more facts come to light [Raja Bahadur Visheshwara Singh v. CIT [1961] 41 ITR 685 (SC); CIT v. Brij Lal Lohia Mahabir Prasad Khemka [1972] 84 ITR 273 (SC); Namdang Tea Co. Ltd. v. CIT [1982] 138 ITR 326 (Cal); CIT V. Manaklal Porwal [1986] 160 ITR 243 (Raj.) etc.] or if the earlier bench omitted to consider certain material aspects [Raja Bahadur Visheshwara Singh v. CIT [1961] (41 ITR 685 (SC); Dwarkadas Kesardeo Morarka v. CIT [1962] 44 ITR 529 (SC); CIT v. Mohanlal Ranchhodas [1993] 203 ITR 3…

M/S. SOGEFI ENGINE SYSTEMS INDIA PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 6(1)(2), BANGALORE

In the result, all the appeals are dismissed

ITA 1698/BANG/2019[2015-16]Status: DisposedITAT Bangalore15 Jul 2021AY 2015-16

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Venkatesh Kumar, AdvocateFor Respondent: Shri Priyadarshi Mishra, Addl.CIT(DR)(ITAT), Bengaluru
Section 143(1)

…different conclusion if there is adequate justification to depart from the earlier view i.e., where subsequently new or more facts come to light [Raja Bahadur Visheshwara Singh v. CIT [1961] 41 ITR 685 (SC); CIT v. Brij Lal Lohia Mahabir Prasad Khemka [1972] 84 ITR 273 (SC); Namdang Tea Co. Ltd. v. CIT [1982] 138 ITR 326 (Cal); CIT V. Manaklal Porwal [1986] 160 ITR 243 (Raj.) etc.] or if the earlier bench omitted to consider certain material aspects [Raja Bahadur Visheshwara Singh v. CIT [1961] (41 ITR 685 (SC); Dwarkadas Kesardeo Morarka v. CIT [1962] 44 ITR 529 (SC); CIT v. Mohanlal Ranchhodas [1993] 203 ITR 3…

M/S. SOGEFI ENGINE SYSTEMS INDIA PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 6(1)(2), BANGALORE

In the result, all the appeals are dismissed

ITA 1697/BANG/2019[2014-15]Status: DisposedITAT Bangalore15 Jul 2021AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Venkatesh Kumar, AdvocateFor Respondent: Shri Priyadarshi Mishra, Addl.CIT(DR)(ITAT), Bengaluru
Section 143(1)

…different conclusion if there is adequate justification to depart from the earlier view i.e., where subsequently new or more facts come to light [Raja Bahadur Visheshwara Singh v. CIT [1961] 41 ITR 685 (SC); CIT v. Brij Lal Lohia Mahabir Prasad Khemka [1972] 84 ITR 273 (SC); Namdang Tea Co. Ltd. v. CIT [1982] 138 ITR 326 (Cal); CIT V. Manaklal Porwal [1986] 160 ITR 243 (Raj.) etc.] or if the earlier bench omitted to consider certain material aspects [Raja Bahadur Visheshwara Singh v. CIT [1961] (41 ITR 685 (SC); Dwarkadas Kesardeo Morarka v. CIT [1962] 44 ITR 529 (SC); CIT v. Mohanlal Ranchhodas [1993] 203 ITR 3…

M/S. SOGEFI ENGINE SYSTEMS INDIA PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 6(1)(2), BANGALORE

In the result, all the appeals are dismissed

ITA 1696/BANG/2019[2013-14]Status: DisposedITAT Bangalore15 Jul 2021AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Venkatesh Kumar, AdvocateFor Respondent: Shri Priyadarshi Mishra, Addl.CIT(DR)(ITAT), Bengaluru
Section 143(1)

…different conclusion if there is adequate justification to depart from the earlier view i.e., where subsequently new or more facts come to light [Raja Bahadur Visheshwara Singh v. CIT [1961] 41 ITR 685 (SC); CIT v. Brij Lal Lohia Mahabir Prasad Khemka [1972] 84 ITR 273 (SC); Namdang Tea Co. Ltd. v. CIT [1982] 138 ITR 326 (Cal); CIT V. Manaklal Porwal [1986] 160 ITR 243 (Raj.) etc.] or if the earlier bench omitted to consider certain material aspects [Raja Bahadur Visheshwara Singh v. CIT [1961] (41 ITR 685 (SC); Dwarkadas Kesardeo Morarka v. CIT [1962] 44 ITR 529 (SC); CIT v. Mohanlal Ranchhodas [1993] 203 ITR 3…

M/S SOGEFI MNR FILTRATION INDIA PVT. LTD.,,BANGALORE vs. DCIT, BANGALORE

In the result, all the appeals are dismissed

ITA 757/BANG/2016[2012-13]Status: DisposedITAT Bangalore15 Jul 2021AY 2012-13

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Venkatesh Kumar, AdvocateFor Respondent: Shri Priyadarshi Mishra, Addl.CIT(DR)(ITAT), Bengaluru
Section 143(1)

…different conclusion if there is adequate justification to depart from the earlier view i.e., where subsequently new or more facts come to light [Raja Bahadur Visheshwara Singh v. CIT [1961] 41 ITR 685 (SC); CIT v. Brij Lal Lohia Mahabir Prasad Khemka [1972] 84 ITR 273 (SC); Namdang Tea Co. Ltd. v. CIT [1982] 138 ITR 326 (Cal); CIT V. Manaklal Porwal [1986] 160 ITR 243 (Raj.) etc.] or if the earlier bench omitted to consider certain material aspects [Raja Bahadur Visheshwara Singh v. CIT [1961] (41 ITR 685 (SC); Dwarkadas Kesardeo Morarka v. CIT [1962] 44 ITR 529 (SC); CIT v. Mohanlal Ranchhodas [1993] 203 ITR 3…

PRICE WATERHOUSE COPPERS PRIVATE LIMITED,KOLKATA vs. ADDL C.I.T RG - 2,KOLKATA, KOLKATA

In the result, to sum up, the appeals of the revenue in ITA No

ITA 2033/KOL/2013[2003-04]Status: DisposedITAT Kolkata13 Jul 2016AY 2003-04

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

For Appellant: Shri K. M. Gupta, ARFor Respondent: Shri A. K. Pandey, JCIT, Sr. DR
Section 143(3)

…ision. We find that much water had flown on this issue and more clarity has been reached on the same. In this regard, we place reliance on the decision of the Hon’ble Apex Court in the case of CIT vs Brij Lal Lohia and Mahabir Prasad Khemka reported in (1972) 84 ITR 273 (SC) wherein it was held that :- “On going through the Tribunal’s order, we are satisfied that the finding of the Tribunal cannot be said to be a perverse finding. That finding being finding of facts, it was not open to the High Court nor is it open to this court to interfere with that finding. The fact that in the earlier proceedings the Tribuna…

D.C.I.T, CIR-2,KOLKATA, KOLKATA vs. M/S PRICE WATER HOUSE COOPERS PVT., KOLKATA

In the result, to sum up, the appeals of the revenue in ITA No

ITA 1523/KOL/2013[2005-2006]Status: DisposedITAT Kolkata13 Jul 2016AY 2005-2006

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

For Appellant: Shri K. M. Gupta, ARFor Respondent: Shri A. K. Pandey, JCIT, Sr. DR
Section 143(3)

…ision. We find that much water had flown on this issue and more clarity has been reached on the same. In this regard, we place reliance on the decision of the Hon’ble Apex Court in the case of CIT vs Brij Lal Lohia and Mahabir Prasad Khemka reported in (1972) 84 ITR 273 (SC) wherein it was held that :- “On going through the Tribunal’s order, we are satisfied that the finding of the Tribunal cannot be said to be a perverse finding. That finding being finding of facts, it was not open to the High Court nor is it open to this court to interfere with that finding. The fact that in the earlier proceedings the Tribuna…

D.C.I.T, CIR-2,KOLKATA, KOLKATA vs. M/S PRICEWATERHOUSE COOPERS PVT, KOLKATA

In the result, to sum up, the appeals of the revenue in ITA No

ITA 1521/KOL/2013[2003-2004]Status: DisposedITAT Kolkata13 Jul 2016AY 2003-2004

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

For Appellant: Shri K. M. Gupta, ARFor Respondent: Shri A. K. Pandey, JCIT, Sr. DR
Section 143(3)

…ision. We find that much water had flown on this issue and more clarity has been reached on the same. In this regard, we place reliance on the decision of the Hon’ble Apex Court in the case of CIT vs Brij Lal Lohia and Mahabir Prasad Khemka reported in (1972) 84 ITR 273 (SC) wherein it was held that :- “On going through the Tribunal’s order, we are satisfied that the finding of the Tribunal cannot be said to be a perverse finding. That finding being finding of facts, it was not open to the High Court nor is it open to this court to interfere with that finding. The fact that in the earlier proceedings the Tribuna…