2015 (4) TMI 106

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....th June, 2011. That was on an appeal by the assessee. The assessee was aggrieved by the order of the assessing officer. The Commissioner allowed the appeal of the assessee and set aside the assessing officer's order partially. Against grant of only partial relief, the assessee approached the Tribunal, whereas the revenue challenged the order of the Commissioner against the partial relief granted to the assessee. 3. These two appeals had been disposed of by a common order. The assessee is a company incorporated and registered under the Indian Companies Act, 1956. A private limited company, the revenue itself states that it is in the business of trading of goods. A search / survey operation under section 132(1) and 133A of the Income T....

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....heque book were found after a search and survey operations. If Pravin Kumar Jain admits that he and his group are involved in preparing and issuing accommodation bills, then, the assessee before us cannot be claimed to be an independent unit. It is a part of the group. It is engaged in the same activities. It is in these circumstances that the books of account were rejected and it was found that the estimation of income by the assessing officer needs to be done and that could not have been termed as arbitrary. Once the assessing officer has recorded his satisfaction in terms of sub-section (3) of section 145 of the I.T. Act, then, his order should have been upheld by the Commissioner. The revenue cannot be expected to bring anything more th....