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2011 (10) TMI 470 - HC - Income TaxAdmissibility of appeal u/s 260A - substantial question of law - rejection of book of accounts - determination of Gross Profit rate to be applied on particular yearly turnover of the assessee - Held that:- It is a matter of discretion to be exercised on settled practice applicable to business standards and which is prevalent in commercial world. Once the Tribunal accepted the factual explanation of assessee and accordingly, deleted the additions in question made by A.O. in exercise of its appellate discretionary powers, then it would not involve any substantial issue of law as such. In other words, this Court in its appellate jurisdiction u/s 260-A ibid, would not again de novo hold yet another factual inquiry - Appeal dismissed.
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