2012 (12) TMI 461

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.... filed today is taken on record.   The present appeal has been filed under Section 260-A of the Income Tax Act,1961, hereinafter referred to as "the Act ", against the order dated 11.9.2009 passed by the Income Tax Appellate Tribunal, Allahabad Bench Allahabad. The Department has proposed the following substantial questions of law said to be arising out of the Tribunal's order.: '1. Whe....

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....assessee deals in printing and publication of books/diaries and sale thereof. It had disclosed the total sale of a sum of Rs.8,14,80,833/- declaring gross profit at Rs.1,89,08,089/-. It had filed return of income showing income of Rs.83,57,210/-. During the course of assessment proceeding the Assessing Officer found that the assessee had sold Bhargav Dictionary though its sister concern "Sri Ganga....

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....ent-assessee. Sri Ashok Kumar submitted that there is no justification to offer a discount of 3% to its sister concern while 2.5% was allowed by the assessee to other customers. He further submitted that there was no justification to sell dictionaries at price lesser than what it was charging from other whole sellers. He thus submitted that the order of assessing authority ought to have been....