2015 (8) TMI 424

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....S.J. VAZIFDAR, A.C.J. (ORAL) These appeals are against a common order dated 31.10.2014 passed by the Income Tax Appellate Tribunal in respect of the four assessment years i.e. 2005-2006, 2006-2007, 2007-2008 and 2008-2009 respectively. 2. The appellant contends that the following substantial questions of law arise in these appeals:- "(i) Whether as per law and in the facts and circumstanc....

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.... respect of all the assessment years. 3. A search was conducted under Section 132 of the Income Tax Act, 1961 on 30.06.2010. The respondent/assessee was directed to produce the books of account. Admittedly, they failed to do so. It appears that there was a dispute between the Directors of the company each one blaming the other for the custody of the books. Be that as it may, the fact is that th....

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....re the assessment had been completed last year and I had found that the GP rate shown was in the range of 20% to 22%." 4. However, no particulars either of the "visit" or of the assessment order in such cases were furnished or even referred to. The same were not put to the assessee. 5. The CIT (Appeals) and the Tribunal rightly observed that there was no incriminating evidence against the re....