Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2016 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (7) TMI 915 - HC - Income TaxRejection of books of accounts - ITAT allowed the rejection - Held that:- The Commissioner (Appeals) examined each discrepancy pointed out by the Assessing Officer and after giving detailed reasons in respect thereof, found that none of the eight grounds taken by the Assessing Officer for rejecting the books of account are valid also confirmed by ITAT. Assessing Officer was not justified in rejecting the books of account of the assessee. Essentially therefore, the impugned order is based upon concurrent findings of fact recorded by the Tribunal after appreciating the material on record. The learned counsel for the appellant is not in a position to dislodge the findings of fact recorded by the Tribunal by pointing out any material to the contrary, nor is it the case of the revenue that the Tribunal has placed reliance upon any irrelevant material or that any relevant material has been ignored. Under the circumstances, in the absence of any perversity being pointed out in the findings of fact recorded by the Tribunal after appreciating the material on record, the conclusion arrived at by the Tribunal being based upon findings of fact, does not give rise to any question of law, much less, a substantial question of law warranting interference. - Decided against revenue
|