Dismissing the appeal the Court held that regarding the sum of Rs. 6,00,60,000 the entire issue was based on appreciation of materials on record. The two revenue authorities and the Tribunal had concurrently come to the conclusion that the claim of expenditure was not genuine. There were major discrepancies in the accounts and the documents presented by the assessee in relation to such claim. Regarding the expenditure of Rs.4.07 crores also, the Assessing Officer, the Commissioner (Appeals) and the Tribunal held that it was not genuine expenditure. Here also the entire issue was based on appreciation of materials on record. The Revenue authorities and the Tribunal concurrently held that the payments were not genuine. The expenditures were not deductible. No question of law arose from the order of the Tribunal. (AY. 2009 10)