2002 (7) TMI 789

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....ther on the facts and in the circumstances of the case, the Tribunal was justified in sustaining two additions, on account unexplained cash credits of ₹ 1,05,000 and the tradition addition without applying a principle of Telescoping to cover up addition of cash credit from trading addition, being a settled preposition of law and goes to the root of the case?" "Whether, on the facts and in the circumstances of the case, the Tribunal has rightly refused to interfere to decide the ground of Telescoping only on the ground that it does not arise from the order of CIT(A), irrespective of the fact that ground was raised before CIT(A), and duly mentioned in the memo of appeal?" "Whether, the Tribunal has rightly declin....

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....ng the trading addition on sale of mobile oil at the rate of 6 per cent on sales of ₹ 11,19,189. Before CIT(A), the assessee has also taken the ground that ₹ 1,05,000 added on account of cash credits may be deleted as addition has been already made on account of shortfall in stock and on account of trading addition. The Tribunal has considered the fact that the creditors were not produced and they are not having any means and they are not man of means, therefore, additions made by the authorities will however sustain. 3. Heard learned counsel for the parties. 4. The cases relied by learned counsel for the appellant were not related with the search. In the case in hand, it is a case of search, where various documents were fou....