9911796707
TMI Blog2011 (4) TMI 197X X X X Extracts X X X X X X X X Extracts X X X X ..... vide order dated February 17, 2010 for determination of the following substantial questions of law:- "1. Whether on the facts and in the circumstances of the case, the Tribunal acted illegally and perversely in sustaining the addition made by the Assessing Officer on the basis of mathematical and multiplication formula? 2. Whether on the facts and in the circumstances of the case, the Tribunal was legally correct in sustaining the addition on account of unaccounted production contrary to the stand of the assessee which stand having been accepted by the department/revenue in the assessment years subsequent to the block period?" 3. Briefly stated, the facts necessary for adjudication as pleaded in the appeal are that a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mutatis mutandis the decision in the case of Mohan Lal (IT/SS No. 8/CHANDI/2003) being identical on facts. It would be advantageous to refer to the finding of the Tribunal recorded in para 38 of its order (Annexure P-3) which reads thus:- "The manner in which the addition has been determined by the Assessing Officer has already been noted by us elsewhere in this order and we do not repeat the same for the sake of brevity. The first issue made out by the assessee is that the period for which there is no seized material showing unrecorded sales, no addition should be made for such period. As noted earlier, the search has resulted in unearthing of certain loose papers which contained a record of sales. A portion of the sales admittedly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disclosed income' within Chapter XIV-B of the Act. Firstly income should be such which is undisclosed and secondly that such non-disclosure should spring from the search carried out u/s 132(1) of the Act. In the present case the factum of the assessee making sales outside the books of account stands established on the basis of the material found during the search. Therefore, the income so emerging is liable to be assessed under Chapter XIV-B of the Act. The only issue is that for certain period the material found does not record the sales made outside books of account. This would not defeat the addition because it is not open to logic that intermittently the assessee was not making sales outsides the books of account. Therefore the resort t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
