TMI Blog1990 (5) TMI 25X X X X Extracts X X X X X X X X Extracts X X X X ..... tate the following questions for the opinion of this court : "1. Whether, on the facts and circumstances of the case, the Tribunal was legally justified in confirming the ad hoc addition of Rs. 75,000 towards the trading results without determining any basis or manner of computation of the true income, profits and gains of the assessee-company ? 2. Whether the Tribunal, being the final fact-fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring the observations of the learned Commissioner of Income-tax (Appeals), vide para 5 of his order, that only two vouchers worth Rs. 5,000 and Rs. 583 were not available meaning thereby that all the purchases, sales and expenses were vouched and verifiable and there was no material brought on the record to prove any suppression in turnover, inflation in purchases and/or expenses ? and 4. Whethe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ey were maintained on loose sheets. Accordingly, they were rejected. Having rejected the accounts, the authorities made an estimate of the income on the basis of material available and the past assessment orders. In the circumstances, it cannot be suggested that the estimate made is a pure guess or that it is not based on relevant material. No question of law can be said to arise from the order of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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