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2003 (11) TMI 24 - HC - Income TaxAdditions – Shortage vis-à-vis Wastage - Assessing Officer made an addition of Rs. 1,35,80,987 to the trading results, on the ground that the assessee had processed more pan masala and had sold the same outside the books of account - Whether the order of the Tribunal deleting the addition of Rs. 1,35,80,987 is perverse and contrary to the evidence and tax audit report of the statutory auditors? - Tribunal has taken note of a very significant factor, namely, the wastage in supari, catechu and even cardamom, for the preceding years, has been much higher than in the year under consideration, but still the accounts of the assessee were accepted for the last eight years, particularly when assessments in respect of some of the years, were made under section 143(3), i.e., after scrutiny of accounts. The Tribunal has observed that the addition was made on the basis of doubts and surmises - findings recorded by the Tribunal, which are essentially findings of fact, are based on factors, which cannot said to be irrelevant. In our opinion, no question of law, much less a substantial question of law arises from the order of the Tribunal.
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