Dismissing the appeal of the assessee the Court held that ; the incongruities in the cash flow statement with reference to the quantum and dates of withdrawal and deposit and failure to produce any bills or vouchers and the accounts relating to construction, to verify and justify the cash withdrawals of Rs. 1,82,00,000 during the entire year for meeting cost of construction and redeposits of Rs. 82,00,000 when money was not required, exposed the concocted explanation. The assessee had claimed that the entire construction was without any bank transaction or bill, vouchers, etc. which was not plausible. The facts on record were glaring and one-sided. It was obvious that the bills of purchases, payments made to contractor, etc., and the accounts relating to construction were held back, as they would have revealed the truth and would not have supported the already weak and tenuous explanation of the assessee. The reasoning given by the Tribunal was not perverse and was based and founded on the evidence and material on record.( AY.2011-12)