2011 (11) TMI 52

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.... BY THE COURT (PER HON. TRIVEDI J.)   The present appeal has been filed by the Revenue under Section 260A of the Income Tax Act (hereinafter referred to as the said 'Act') against the order dated 31.10.2008, passed by the Income Tax Appellate Tribunal, Jaipur Bench 'A' Jaipur (hereinafter referred to as the 'Tribunal) in ITA No. 305/JP/2008 and C.O. No. 26/JP/2008.   2. The facts g....

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...., preferred the ITA being No. 305/JP/2008 and the respondent assessee filed cross-objections against the said order passed by the CIT(A) before the Tribunal. The Tribunal vide order dated 31.10.2008 , dismissed the appeal of the Revenue and partly allowed the cross-objection of the respondent assessee . The Department, therefore, has preferred the present appeal before this Court under Section 260....

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....ing not been satisfied with the correctness of the books of accounts of the assessee, the CIT(Appeals) and the Tribunal ought to have confirmed the said order of A.O. He also submitted that the Tribunal had also erred in law in allowing the deduction on personal uses of various assets claimed by the respondent in its books of accounts.   4. Having considered the submissions made by the lea....

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....ses by the assessee. The CIT(A) had also found that the defects pointed out by A.O. were due to the incorrect appreciation of the evidence and that the A.O. was not justified in rejecting the books of accounts of the assessee. The Tribunal also while confirming the order of CIT(A) had held as under:-   "Even there is no any instance of any undisclosed purchase/sales/expenses mentioned in t....