TMI Blog1996 (9) TMI 37X X X X Extracts X X X X X X X X Extracts X X X X ..... 61, at the instance of the assessee, and the following question of law has been referred by the Tribunal for the opinion of this court : " Whether, on the facts and in the circumstances of the case, the Tribunal having confirmed the addition of Rs. 7,51,740 agreeing to the finding of the Assessing Officer that no iron scrap was purchased from Jabalpur party but such scrap was received from undis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made to the Jabalpur party was actually received by the assessee itself. Accordingly, the Assessing Officer made an addition of Rs. 7,51,740 to the disclosed income of the assessee towards investment in purchase of iron scrap from undisclosed sources. The Assessing Officer also disallowed the transportation charges of Rs. 42,650 paid to the truck owners for bringing such iron scrap to the factory ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t on verification, it is found that no such purchase was made from the Jabalpur party. It appears that the whole transaction was sham. Therefore, the said addition of Rs. 7,51,749 and Rs. 42,650 has been made in the income of the assessee. We are of the opinion that the Tribunal has rightly approached the matter and that there is no question of law involved. Hence, we answer the aforesaid question ..... X X X X Extracts X X X X X X X X Extracts X X X X
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