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2004 (4) TMI 50 - HC - Income TaxAdditions on account of suppressed sales - it was clearly found to be a case of unaccounted sales to the extent of Rs. 1,40,340 which the assessee had transacted in the year in question. As rightly observed by the Assessing Officer the assessee could not make any effort of reconciliation with the Indian Oil Corporation to show their genuineness with whom they had transacted in purchase of the kerosene oil - explanation offered by the assessee as to why the entry could not be made the same day was not rightly accepted by the taxing authorities, being not according to normal principle of accountancy - Assessee’s appeal dismissed
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