2011 (11) TMI 444

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....ts leading up to this appeal was are under: The appellant filed the return of income on 18.09.2001 declaring nil income. A notice under Section 143(2) was issued on 27.11.2001 and was served upon the assessee on 28.11.2001. The assessee is a firm running the hospital under the name of "Indira Hospital Research and Diagnostic Centre" and has shown a gross collection of Rs. 1,31,64,051/- for the financial year 2000-01. The net profit is Rs. 13,70,828/- and accounts to 10.41% of the gross collection. In response to the notice, the assessee through its authorised representative had attended the hearings and has produced the details in support of the return filed and the Assessing Officer by order dated 30.03.2004 held that in view of the rep....

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....s not specifically set aside the accounts maintained and therefore the matter could not be remitted to the DVO and wherefore the order passed by the Tribunal is perverse and arbitrary. 3. We have heard the learned counsel appearing for the appellant and the learned counsel appearing for the respondent. 4. Learned counsel appearing for the appellant submitted that the Assessing Authority could not have referred the matter to the DVO in a case where there was categorical finding recorded rejecting the books of account maintained by the assessee and wherefore in view of the principles laid down by the Hon'ble Supreme Court in the case of Sargam Cinema (supra), the appeal gives raise to the substantial question of law to be decided, which....