2003 (2) TMI 168

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....leted the addition of Rs. 1,50,000 made by AO on account of undisclosed income. 2. The brief facts of the case are that there was an information with the AO that some material was brought from Jagadhary purchased from MMTC and the same was intercepted at the sales-tax check barrier Kundli and a penalty of Rs. 30,000 was levied. Statement of transporter was taken by the ADI and the same was pass....

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....books of the assessee were duly audited. Accordingly, it was ascertained at the end by CIT(A) that the goods intercepted at the sales-tax barrier on29th Dec., 1989, were not belonging to the assessee. Accordingly, additions made by AO were deleted. Now, the Department is in appeal here before the Tribunal. 3. The learned Departmental Representative simply placed reliance on the order of AO. On ....