2018 (1) TMI 1582

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..... hri Absent ORDER Being aggrieved with the order passed by the Commissioner (Appeals), Revenue has filed present appeal. 2. We have heard Shri Mohammad Altaf, Assistant Commissioner (AR) for Revenue. Nobody appeared for respondent. 3. As per facts on record the respondents are engaged in the manufacture of various Iron and Steel articles, which were being cleared by them on payment of duty on t .....

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..... able to show any nexus with the income from Share Trading with the value of products cleared by the assessee. By relying up on various decisions of the Tribunal, he observed that the balance sheet of the company had shown huge profits through share trading and received as commission, which the department alleged to be fictitious emergence of income/profit. The Tribunal in the case of R.A. Casting .....

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