TMI Blog2015 (4) TMI 106X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee could not have been rejected only by relying on the same. There is no specific defect which was pointed out by the assessing officer in the books of account. In the circumstances, the Commissioner's order, sustaining the estimation of the turnover by the assessing officer partially, was rightly set aside by the Tribunal. - Decided against revenue. - Income Tax Appeal No. 1030 of 2013 - - - Dated:- 17-3-2015 - S. C. Dharmadhikari And A. K. Menon,JJ. For the Appellant : Mr P C Chhotaray For the Respondents : Dr K Shivram, Sr. Adv. Mr Rahul Hakani ORDER P. C. 1. This is an appeal by the revenue challenging the order passed by the Income Tax Appellate Tribunal, Mumbai in two appeals, one by the assesee-re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee had claimed that disallowance of ₹ 40,42,634/- is erroneous. However, the Tribunal in the impugned order found that the Assessee's representative had not been able to demonstrate as to how the business expenditure at ₹ 40,42,634/- is allowable. Therefore, this additional ground raised by the assessee deserves to be rejected. 5. Thus, both the appeals were confined to the rejection of books' results under section 145(3) of the I.T. Act pertaining to the sustainence of addition. Thereafter, estimation done by the assessing officer was not sustained in its entirety by the Commissioner. 6. Mr.Chhotaray submits that the entire exercise undertaken by the Commissioner appears to be apparently factual. However, what ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9;s order and rightly. The appeal does not raise any substantial question of law as the matter is clearly factual. Therefore, this appeal should be dismissed. 8. We have with the assistance of both sides perused the order passed by the Commissioner as also the Tribunal. The Tribunal has found that though the present assessee is a limited company, but it is associated with Pravin Kumar Jain group. Pravin Kumar Jain and his brother Pankaj Kumar Jain were Directors in the assessee company. However, the assessee was engaged in the business of trading of goods. The books of account of the assessee were audited. No defect or discrepancy was found. In these circumstances and when there was no material other than the statement of Pravin Kumar Ja ..... X X X X Extracts X X X X X X X X Extracts X X X X
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