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2016 (9) TMI 600 - ALLAHABAD HIGH COURT

2016 (9) TMI 600 - ALLAHABAD HIGH COURT - TMI - Rejection of accounts - false information - Held that:- For all the facts and circumstances and considering the fact that Assessee concealed certain things, furnished wrong informations, transaction were made in cash, Assessing Officer found a justification for rejection of accounts and this has been up held by Tribunal holding that CIT (A) has taken a wrong view in reversing findings of Assessing Officer on this aspect. - Since all these facts .....

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S.D. Singh,Nishant Mishra For the Respondent : S.C. ORDER 1. 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 following substantial .....

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ccounts by Assessing Officer. Otherwise findings recorded by CIT(A) has been reversed by Tribunal but on the question of additions, it has remanded the matter to Assessing Officer, since in view of Tribunal, there was no material or basis to make such additions at a particular rate, thus, before 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 .....

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