2016 (9) TMI 600

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..... Heard Shri S.D.Singh, learned counsel for appellant and learned standing counsel for respondent. 2.This appeal under section 260-A of Income Tax Act, 1961 (hereinafter referred to as "Act 1961") has been preferred by Assessee appellant against order dated 16.12.2005 passed by Income Tax Tribunal, New Delhi Bench,'D' (hereinafter referred to as "Tribunal"). 3. The appeal was admitted on .....

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..... us, the issue is confined to the rejection of accounts upheld by Tribunal. 5. From record, it is evident that scrap imported by appellant was largely in cash but in order to specify rates at which scrap was sold in cash and that too after segregation of scrap in various categories, no sufficient material was maintained or placed before Assessing Officer, to determine rates. 6. Names and address .....

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..... rrect and no error or misreading of documents or factual error has been pointed out, we are of the view that Tribunal was justified in upholding Assessing Officer's findings for rejection of accounts of Assessee and otherwise view of CIT(A) has rightly been reserved by Tribunal. 9. The question, formulated above is answered in favour of Revenue and against Assessee. 10. Appeal is accordingly .....

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