Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2017 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (4) TMI 1578 - HC - Income TaxUnverified purchases - non production of books of accounts - Whether Tribunal was justified on one hand in confirming the finding of unverified purchases shown by the assessee and consequent rejection of books of accounts u/s.145(3) and on the other hand reducing the addition made by the Assessing Officer, to merely ₹ 4,00,000/- only without giving any justification for the same? - HELD THAT:- As one of the partner of the assessee firm was brother of the assessee and even he himself has not produced books of accounts before the Additional Commissioner which has been one of the finding arrived at by both the authorities below. We were inclined to remit the case back in view of the settled law of this Court, however, counsel for the assessee insisted us at behest of respondent to hear the appeals on merits and therefore, we have heard both these appeals on merits. It is well settled that the Tribunal while considering the case and reversing the view taken by the CIT(A) has to justify the reasons for reversing the order of CIT(A). The CIT(A) while considering the case has relied upon the judgment of M/s Gem Paradise [2016 (11) TMI 1400 - RAJASTHAN HIGH COURT] which has not been referred by the Tribunal. Apart from that, in our considered opinion, the decision of Gujarat High Court was rightly relied by the Assessing Officer and will apply in the facts of the case. We are of the considered opinion that the Tribunal has seriously committed an error in reversing the view taken by the CIT(A). No doubt, the contention raised by Mr. Singhi counsel for the department, that the view taken by the CIT(A) also requires to be modified, but while framing the issues this court has framed only one issue. We are of the opinion that the view taken by the CIT(A) is required to be reversed but looking to our limitation we are going back to the order of CIT(A) and the order of the Tribunal is reversed and the view taken by the CIT(A) is confirmed. - Decided against assessee.
|