2015 (4) TMI 58

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ER 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 Income Tax (Appeals). 3. The issue was of co....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ncome 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 (Appeals) had before him the cases of M/s. Mul Dent....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 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's conclusion establish that the assessing officer'....