2006 (7) TMI 653

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....ned counsel for the appellant. 3. This appeal is directed against the order of Tribunal, Jodhpur Bench, Jodhpur, dated 14-9-2004. The revenue seeks to raise following substantial question of law arising for consideration in this appeal : "Whether on the facts and in the circumstances of the case and in law, the learned Tribunal was justified in upholding the order of learned CIT(A) deleti....

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....rejected and the Assessing Officer resorted to best judgment assessment by adopting the GP rate of 52 per cent and total income was computed as nil by rejecting the claim of assessee for carrying forward loss of Rs. 11,89,487. On appeal, the CIT(A) found that the rejection of the books of account was not warranted on the basis of the expenses shown on the power consumption. It was noticed that ....

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....iddle of accounting year relevant to the assessment year under reference. The Assessing Officer has not given any specific finding for rejection of book results. He has also not pointed out any defects in the books of account maintained or the method of accounting followed. There is no material placed on record to show any instance of suppression of sales or inflation of purchases or expenses. The....