2015 (4) TMI 58

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.... : Mr F V Irani & Mr A K Jasani ORDER P. C. 1. We have heard Mr.Mohanty, learned counsel appearing on behalf of the revenue in support of this appeal. 2. The revenue is aggrieved by the concurrent findings recorded by the Commissioner of Income Tax (Appeals) and the Tribunal. The Tribunal in the impugned order dated dated 7th February, 2006 has upheld the order of the Commissioner of I....

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....an one reason. In the order of the Commissioner of Income Tax (Appeals), we find that there are four grounds referred. The assessing officer had erred in adding a sum of Rs. 8,98,36,614/- as undisclosed income of the assessee for the block period on the alleged ground that the purchases of raw materials and spare parts from Ramesh Parekh group of concerns were bogus. The Commissioner of Income Tax....

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....und in paragraphs 35 and 36 of the impugned order. The Tribunal has concluded that all the disputed purchases have already been reflected in the regular books of accounts. The Commissioner, therefore, undertook this exercise and established that the books indeed reflected such purchases. Therefore, if the books of accounts and other documents relevant for this purpose in terms of the Tribunal'....