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TMI Blog2009 (9) TMI 231X X X X Extracts X X X X X X X X Extracts X X X X ..... for the respondent. JUDGMENT 1. The present appeal has been filed under section 260A of the Income-tax Act, 1961 (hereinafter referred to as "the Act") against the order dated September 2, 1999, passed by the Appellate Tribunal, New Delhi. The appeal has been admitted on the following substantial question of law vide order dated November 13, 2006: "Whether, on facts and in the circumstances of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment year 1990-91. The respondent-assessee was a firm which had been granted registration under section 185(1)(a) of the Act for the assessment year 1985-86. It is engaged in the construction work. It had not maintained any books of account. The receipts from contract business was to the tune of Rs. 1,24,69,486. As the assessee had not maintained any books of account, it did not get its ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... smuch as the assessee had failed to get its books of account audited. 6. The submission of Sri Mahajan is misconceived for the reason that the requirement of getting the books of account audited could arise only where the books of accounts are maintained. If for some reason the assessee has not maintained the books of account the appropriate provision under which penalty proceedings can be initia ..... X X X X Extracts X X X X X X X X Extracts X X X X
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