2015 (8) TMI 660

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.... ORDER S. J. Vazifdar, ACJ (Oral) This is an appeal against the order of the Income Tax Appellate Tribunal dated 21.05.2013 deleting the addition of about Rs. 15,43,000/- in respect of the block period 01.04.1985 to 23.11.1995. 2. According to the appellant, the following substantial questions of law arise in this appeal:- (i) Whether in the facts and circumstances of the case, the ....

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....739 and 740 in the sum of Rs. 97,790/- and Rs. 38,920/- aggregating to Rs. 1,36,710/-. The books of account, however, recorded the amounts in respect of these bills as Rs. 3600/- and Rs. 7200/-, respectively. The total billed amount for the relevant date, namely, 14.02.1994 was Rs. 2,52,774/-. The Assessing Officer, therefore, proceeded on the basis that receipts to the extent of 54% were kept out....

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.... supply had been cancelled; that they never received any amount from the assessee against the said bills and that they had not made any payment in respect thereof. It was found that this evidence had not been controverted by bringing any cogent material on record. It was observed that there were several transactions and that if the assessee had been indulging in the alleged practice, there would h....