2007 (5) TMI 185

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..... 45, 48 and 49 (Del)/97 relevant for the block period 1st April, 1985 to 22nd February,  1996. 2 The Tribunal allowed all the four appeals and in respect of one of them (IT (SS) 49 (Del)/97), the Revenue preferred an appeal under Section 260A of the Income Tax Act, 1961 being ITA No.178/2004 By an order dated 26th April  2004 the Division Bench came to the conclusion that no substantial .....

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..... bunal required the Assesses to produce the original cancelled and blank bills, which was done. After examining these bills and comparing them with the entries in the sale register, it was found that the cancelled and blank bills were a part of the regular bill books maintained by the Assesses for its business purposes. All the bill numbers were entered in the sale register and they were tallied on .....

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..... and there was no basis for the Assessing Officer to make any estimation in respect of blank and cancelled bills. The Tribunal was fully justified in taking into consideration the subsequent findings, namely, that a return for the assessment year 1996-97 had been accepted by the Revenue. 9 The other question raised by the Revenue is with regard to the gross profit rate. This is based on the conclu .....

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