TMI Blog2014 (5) TMI 587X X X X Extracts X X X X X X X X Extracts X X X X ..... se in case the books of account are believed, but any particular entry in that account is not believed – the AO had evidently made the best judgment assessment after rejecting the books of accounts of the assessee – the matter is required to be remitted back to the AO for adjudication – Decided in favor of Revenue. - ITAT No. 223 of 2013, G.A. No.3814 of 2013, G.A. No. 3815 of 2013 - - - Dated:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that as per the books of accounts relied upon by the assessee on 14th April, 2007, the assessee had 584 Tins, whereas the consumption on 14th April, 2007 was 668 Tins. Similarly on 24th April, 2007 there were 551 Tins available with the assessee, whereas on 24th April, 2007 he allegedly consumed 986 Tins. She contended that the aforesaid instances clearly go to establish that the books of account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ussed the evidence which was sought to be relied upon by the assessee. The Commissioner of Income Tax did not do so. A finding arrived at by the Assessing Officer on the basis of evidence could not be set aside without disclosing satisfactorily that the finding arrived was either by ignoring evidence or on the basis of misappreciation of the evidence. The finding that the Assessing Officer did not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... contended that he has adduced appropriate evidence to show that the aforesaid anomaly was arrived at on the basis of wrong appreciation of the facts and circumstances of the case. After hearing the learned Advocates appearing for the parties, we are of the opinion that the proper course will be to remand the matter to the Assessing Officer. Accordingly, the order under challenge passed by the l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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