2009 (11) TMI 393

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....MENT The judgment of the court was delivered by C. N. Ramachandran Nair J.- Since the reason for delay in filing the appeal is on account of the pendency of the miscellaneous petition before the Tribunal for rectification of the order, we condone the delay and admit the appeal. 2. The appeal is filed against the order of the Tribunal deleting Rs.24,72,170, which is a suppressed income ....

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....sp; In the block assessment, this amount was treated as suppressed income. Besides this, the assessee was found to be engaged in sale of liquor under the name "other liquor sales", the accounts of which were found in the computer was also seized. The Assessing Officer treated this as spurious liquor sales, but granted deduction of cost of purchase and treated the net amount as suppressed income. I....

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....the addition against which this appeal is filed. 5. After hearing both sides and after going through the Tribunal's order, we are of the view that the Tribunal's order is not tenable because, admittedly, the assessee maintained two sets of accounts in respect of brandy sales which is nothing but sale of liquor purchased from authorised sources. When the assessee accounts the full sale considera....