2014 (7) TMI 53

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.... Jasani ORDER P. C. 1. This Appeal is directed against the order passed by the Income Tax Appellate Tribunal, Mumbai on 11th March 2011. 2. The Revenue's Appeal has been dismissed by the Tribunal. The two questions which are raised as substantial questions of law are as under : "( A) Whether on the facts and in the circumstances of the case and in law, the Hon'ble ITAT was justified....

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....e Tribunal on 25th February 2011. The order of 25th February 2011 was in relation to Assessment Year 1995-96. On 30th April 2014, the Division Bench of this Court had dismissed the Revenue's Appeal holding that it does not raise any substantial question of law. In fact, in doing so, the Division Bench relied upon the earlier Division Bench's order dated 20th November 2012 in Income Tax Ap....

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....y the quantity of stock. The Commissioner of Income Tax (Appeals) has given a finding to this effect. Therefore, in the facts peculiar to the claim of the present nature, the Tribunal held that the insistence on actual proof considering the nature of the business and the reasonableness of the claim made by the Assessee was improper. No such insistence would have been there considering the claim ma....