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TMI Blog2017 (7) TMI 1054X X X X Extracts X X X X X X X X Extracts X X X X ..... .Padma Divakar, Mr.Jayan Gaikwad and Mr.Pradip Badgude, Advocate for the Appellant Mr.A.R.Malhotra a/w. Mr.N.A.Kazi and Mrs.Padma Divakar, Advocate for the Appellant in ITXA No.1173 of 2014 Mr.Pankaj Toprani a/w. Ms.Krupa Toprani i/b. PRH Juris Consults, Advocate for the Respondent ORDER P. C. 1 These appeals are with regard to Assessment Year 1991-92. Both the appeals involve common question ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... el submits that if after ten years, the assessee is allowed to produce the books of accounts, it will lead to chaotic situation. 3 Mr.Kotangle, the learned counsel for the appellant adopts the arguments of Mr.Malhotra. 4 Mr.Toprani, the learned counsel for respondent, submits that in respect of different assessees of the same group, the Tribunal had directed the Assessing Officer to consider the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the books of accounts earlier. The reasons given for production of additional evidence, it appears, are plausible, and would be within the purview of Rule 46 of the Income Tax Rules. The discretion has been exercised by the Tribunal. However, it is found that the Tribunal has exceeded and gone beyond the scope of Rule 46. The Tribunal could not have directed the Assessing Officer to compute the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ss and authenticity of the entries in the books of accounts and thereafter pass assessment order afresh. ii) The directions of the Tribunal with regard to determination of unaccounted investments, disallowance of deduction on account of interest expenditure, disallowance of deduction on account of other expenditure, to hold the sale of shares as capital gains and allow deduction under Section 48 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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