9911796707
TMI Blog2017 (3) TMI 1829X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Tribunal whereby Tribunal has dismissed the appeal preferred by the department. 2. Counsel for the appellant has framed the following substantial question of law:- "Whether on the facts and circumstances of the case and in law, the Hon'ble ITAT is justified in upholding the decision of CIT(A) of deleting the addition of Rs. 80,00,000/- made by the AO on account of retraction from income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was mentioned that since it was a big account the appellant company did some personal trading from this account. In response to question no. 42 it was mentioned that these kind of transactions were not done in earlier year but only during this assessment year and these transactions resulted in a Net Profit of Rs. 80,00,000/-. This amount was not reflected in the regular books of accounts so the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in she has observed that all the transactions in M/s Sandeep Stock Pvt. Ltd. were verifiable and corresponded with its ledger a/c maintained in the books of the appellant company. 6. M/s Sandeep Stock Pvt. Ltd. is an independententity and as assessee who has reflected the income from these transactions in its return of income. The same was affirmed by the Tribunal. 4. In our considered opinion, ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
