2007 (9) TMI 31

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....ions of law would arise for the determination of this court:        "1. Whether, on the facts and in the circumstances, the Tribunal was legally right to uphold the order of the Commissioner of Income-tax (Appeals) in deleting the addition made by the Assessing Officer by applying the provisions of section 145(3) of the Income-tax Act rejecting the books of account where the trading results declared were not found to be correct because of various discrepancies ? As such findings given by the hon'ble Income-tax Appellate Tribunal are perverse and it is a settled law that on perversity a question of law arises?   2. Whether, on the facts and circumstances of the case, the hon'ble Income-tax A....

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....icer that the commission of Rs. 1,48,659 was paid to Shri Vijay Kumar Aggarwal, a close relative of the managing director which was disallowed as the assessee failed to justify its genuine ness. Aggrieved by the order of the Assessing Officer, the assessee filed an appeal before the Commissioner of Income-tax (Appeals) who, vide order dated October 22, 2002, deleted the addition made by the Assessing Officer holding that the Assessing Officer has not pointed out any defects in the books of account and that Shri Vijay Kumar Aggarwal was rendering service in lieu of which he was paid commission. Being not satisfied with the order of the Commissioner of Income-tax (Appeals), the Revenue filed an appeal before the Tribunal which was dismissed b....