https://www.taxtmi.com/caselaws?id=9471 The court upheld the Assessing Officer's decision to disallow the loss claimed by the assessee in trading rice transactions. It emphasized that additional evidence cannot be considered during the first appeal if not presented during the original assessment. The court supported the Assessing Officer's scrutiny of profit and loss entries, stating specific defects in loss entries warranted separate assessment. The court affirmed the application of section 145(3) of the Income-tax Act, allowing the Assessing Officer to question incomplete accounts. As no substantial legal question was found, the appeal was dismissed, affirming the Tribunal's decision. en-us Tue, 17 Jan 2006 00:00:00 +0530 Fri, 17 Aug 2018 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9471 The court upheld the Assessing Officer's decision to disallow the loss claimed by the assessee in trading rice transactions. It emphasized that additional evidence cannot be considered during the first appeal if not presented during the original assessment. The court supported the Assessing Officer's scrutiny of profit and loss entries, stating specific defects in loss entries warranted separate assessment. The court affirmed the application of section 145(3) of the Income-tax Act, allowing the Assessing Officer to question incomplete accounts. As no substantial legal question was found, the appeal was dismissed, affirming the Tribunal's decision. Case-Laws Income Tax Tue, 17 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9471