Discharge of burden u/s. 68 involves question of fact and not substantial question of law

CIT Vs Goldstone Cements Limited (Gauhati High Court) Gauhati High Court held that discharge of burden by assessee under section 68 of the Income Tax Act i.e. identity, creditworthiness and genuineness of transaction is question of fact and not substantial question of law. Accordingly, appeal is not maintainable. Facts- Upon a search and seizure as per Section 132 of the IT Act being conducted in the office premises of the respondent company as well as in the residence of family members and other business concerns etc., the Assessing Authority having doubted the sale transaction in respect of ...