2015 (1) TMI 662

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....UDHIR M MEHTA, ADVOCATE FOR THE RESPONDENT : MR SN DIVATIA, ADVOCATE JUDGEMENT Per: K S Jhaveri: 1. By way of these appeals, the appellant has challenged the judgment and order dated 28.2.2007 passed by the Income Tax Appellate Tribunal, Ahmedabad Bench 'C' in ITA No. 425/Ahd/2001, in ITA No. 429/Ahd/2001 and ITA No. 427/Ahd/2001. 2. While admitting these appeals on 14.12.2007, this....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....g total income of Rs. 35,091/-. Thereafter considering the material on record, the assessment orders came to be passed in all the matters. Against the said assessment orders, the assessee has preferred appeals before the CIT(A) which came to be dismissed. Against the order of CIT(A), the assessee preferred appeals before the ITAT which came to be allowed. Being aggrieved by the order of ITAT, the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r of Income Tax vs. Krishi Tyre retreading and Rubber Industries reported in [2014] 360 ITR 580 and Naresh Chand Agarwal vs. Commissioner of Income-Tax reported in [2013] 357 ITR 514.         6. Heard both the parties and gone through the material available on record. In the instant case, we are of the opinion that assessment made is just and proper. The state....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sitive fact or finding had been had been found so as to even make the addition which was a pure guess work, no penalty under section 271(1)(c) of the Act could be said to be leviable on such guess work or estimation. We therefore answer the issue involved in appeals no. 833 to 836 of 2005 in the negative and in favour of the assessee. 5. The Tribunal in para-16 has observed as under:  &....