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2014 (12) TMI 307 - GUJARAT HIGH COURTValidity of Tribunal’s order – Non-speaking order passed by Tribunal – Held that:- The Tribunal was of the view that the AO is legally and factually correct in rejecting the books of accounts u/s. 145 - the burden is on the assessee to prove that timber imported through a specific bill and quantity is either shown as sold or lying in the closing stock - before the AO assessee has not furnished month wise sales and purchases in quantity - revenue has also found various defect – after taking into consideration the entirety of the facts and circumstances of the case, reasons recorded by the AO for making the addition by rejecting the books of accounts u/s. 145, CIT(A) erred in deleting the addition and the addition was correctly made by the AO – the Tribunal reversed the CIT(A)’s order without assigning any cogent reasons – thus, the order of the Tribunal is set aside and the matter is remitted back to the Tribunal – Decided in favour of assessee.
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