2017 (6) TMI 1337

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. These appeals arise out of common background. We may notice facts from Tax Appeal No. 351 of 2017. The appeal is filed by the Revenue challenging judgement of the Income Tax Appellate Tribunal dated 17.10.2016 raising following questions for our consideration: "A. Whether the Appellate Tribunal was justified in clubbing the net profit declared by Swas .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the addition on the premise that not the entire unaccounted sale but only the profit element embedded in such sale can be brought to tax in the hands of the assessee. This issue was confirmed by the Tribunal relying on the judgement of this Court in case of Commissioner of Income Tax vs. President Industries reported in (2002) 124 Taxmann.com 654. 3. We are in broadly agreement with the view of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X