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Heera Lal Kataria Versus The Commissioner of Income Tax, Assistant Commissioner of Income tax

2016 (9) TMI 301 - RAJASTHAN HIGH COURT

Enhancement of income - Held that:- While accepting the books of accounts, estimating the income to ₹ 1,00,000/- by the ld.Tribunal is not permissible in law & the Tribunal ought not to have estimated income having accepted books of accounts. - .....

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1. By way of this appeal, assessee has challenged the judgment & order of the Income Tax Appellate Tribunal whereby the Tribunal has partly allowed the appeal of the assessee. 2. The case of the assessee is that the assessee has filed his return .....

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ieved by the said order, the assessee has preferred appeal before the ld.Tribunal. The ld.Tribunal has looked into the books of accounts and after verification by the representative of department, has delivered the judgment estimating the income to & .....

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tial question of law was framed, however, we consider it appropriate to frame following substantial question of law:- Whether the Tribunal was justified in law in sustaining addition of ₹ 1 lac on estimated basis irrespective of the fact, that .....

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as under:- 145(2). The Central Government may notify in the Official Gazette from time to time income computation and disclosure standards to be followed by any class of assessees or in respect of any class of income. 7. Counsel for appellant conten .....

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t permissible in law. 8. Counsel for respondent contended that in view of rejection of books of accounts by the Assessing Officer and the CIT (Appeals), the ld.Tribunal while considering the books of accounts has appreciated the same and has rightly .....

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specific reference to the explanation given by the assessee. The books were produced before us and the ld.Senior departmental representative was directed to verify the discrepancy with respect to purchase of tyres as pointed out by the ld.CIT(A) in .....

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