2013 (12) TMI 603

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..... ks of accounts and has offered it for tax - The Tribunal has given cogent reasons why it has not granted benefit to the assessee - The material on record shows the persons to whom the brokerage was paid, who are interested are closely connected to the Directors of the assesee Company - Though book entrites were there and the Revenue offered it for tax, on appreciation of the entire material on rec .....

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..... parties? 2. Though one more substantial question of law was framed at the time of admission, it is fairly submitted by the learned counsel for the parties that the second substantial question of law do not arise for consideration. 3. The Assessee is a Company which is doing the business of manufacture of yarn. For the assessment year 2001-02, the appellant had filed its return of income on 15 .....

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..... it declined to interfere. The assessee preferred this appeal challenging those disallowances. 4. Learned counsel appearing for the assessee assailing the impugned order contends, when once evidence is produced to show brokerage was paid and the brokerage was duly acknowledged and the recipient has accounted for it in its books of accounts and has offered it for tax, it was not open to the Tribu .....

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