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 f....

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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 addresse....