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2009 (8) TMI 4

..... sessment year 1992-93 and that addition was not called for as the account of M/s Vijay Bottle Stores in whose favour credit entry was made in the accounts book of the assessee, was not properly maintained held that the matter has been duly considered concurrently by the three authorities and the addition has been made and upheld. The findings of fact so recorded cannot be held to be perverse. Th .....

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..... to sustain the conflicting findings. B Whether the Tribunal erred in confirming the addition of Rs.3,25,000/- on A/C of difference in the balance of M/s Vijay Bottle Store, more so when Tribunal in A.Y.1992-93 held that the accounts of the said party were not reliable and the statement of the Proprietor of that firm was not reliable . C. Whether the Tribunal erred in law in not following its deci .....

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..... aid payments. This fact was was confirmed by Shri Guru Gyan Singh in his statement dated 30th January 2001. Though he did not have his books of accounts or did not remember the transaction but he confirmed that he was maintaining books of account at that time wherein the receipts received were accounted for. He also confirmed that he was not issuing receipts for cash received from customers. This .....

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..... 1.4.1991 was as per the account statement given by the accountant and signed by him. This statement was not proved to be incorrect in the cross-examination conducted on behalf of the assessee. Just as Shri Guru Gyan Singh could not produce his books, the assessee also did not produce his books of accounts. Shri Guru Gyan Singh is not under obligation to maintain his books of accounts beyond certa .....

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..... sessment year 1991-92. Therefore, the Assessing Officer was justified in holding that such payment was made out of undisclosed sources and hence to be added as income under Section 69 of the Act. 3. We have heard learned counsel for the assessee. 4. Learned counsel for the assessee submits that the view taken by the Tribunal is inconsistent with its order for assessment year 1992-93 and that addit .....

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