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2016 (7) TMI 1086 - HC - Income TaxUndisclosed sale - rejecting the books of accounts - Held that:- The rejection of the books on the basis of the admission of the assessee himself was an order which was wholly backed by evidence and by no stretch of imagination the order rejecting the books of account can be said to be perverse. The contention that the books of account were prepared, though belatedly, on the basis of the documents seized, has failed to impress us because the expenditure shown in the books of account was not backed by evidence. Mr. Khaitan is unable to show us that the expenditure, which, according to the assessee was incurred, was proved by any piece of evidence, to have been actually incurred by the assessee. Unless there is adequate evidence as regards expenditure, the amount of income earned by the assessee can never be assessed by any amount of certainty. In the facts and circumstances, it cannot be said that the revenue acted arbitrarily or the order passed by them is perverse. On the top of it, what we find is that the assessment which was made by the Assessing Officer was subsequently reduced by the CIT(A) and the same has been confirmed by the learned Tribunal. These are pure questions of fact. The ground of challenge is perversity. We have already indicated that the order passed by the Assessing Officer or the CIT(A) or the learned Tribunal and each of them is backed by evidence and the ground of perversity is altogether unmeritorious. - Decided in favour of the revenue.
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