TMI Blog2015 (1) TMI 1022X X X X Extracts X X X X X X X X Extracts X X X X ..... unal has upset the fact finding of the lower authority. In our view, the question sought to be canvassed can further be considered only if ultimate finding of fact by the Tribunal is upset after re-appreciation of evidence on record. It is hardly required to be stated that the finding of fact would be beyond the scope of judicial scrutiny in the present appeal where, the judicial scrutiny would be limited to substantial question of law. Whether books of account could be discarded or not, considering the facts and circumstances, essentially, it is a question of fact and not the question of law. - Decided against revenue. - Tax Appeal No. 15 of 2015 - - - Dated:- 16-1-2015 - Jayant Patel And S. H. Vora,JJ. For the Petitioner : Mr. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... before the Tribunal by the Assessee and the Tribunal, at paragraph Nos.16 to 23, observed thus:- 16. We find that it is an established position of law that the result disclosed by the regularly maintained books of account cannot be rejected unless it is found that the books of account maintained are either incomplete or unreliable or method of accounting employed is such on the basis of which correct profit of the assessee cannot be deduced. 17. Further, on finding defect in a particular account only, the effect of which can be separately worked out or estimated, then wholesale rejection of books of account should not be resorted to. 18. Now coming to the facts of the instant case, we find that it is not in dispute that the assessee ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... instant case for rejecting the book results was inability of the assessee to properly explain the reason for decline in gross profit for disproportionate increase in expenses in three heads. In our opinion, the above reason could at best present a case where the Assessing Officer ought to have verified the books with caution and make due inquiries but does not empower the Assessing Officer to reject the book results. 4. The aforesaid shows that the Tribunal being ultimate fact finding authority, has found that in absence of any material to show that the transaction entered into books of account was bogus or that any entries in the books of account were not supported by vouchers, the books of account maintained by the Assessee could not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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