2008 (11) TMI 699

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....he revenue has preferred this appeal under section 260A of Income-tax Act, 1961 against the order of learned Income-tax Appellate Tribunal, Chandigarh Bench "B", Chandigarh passed in ITA No. 248/Chd./2006, dated 18-5-2007 for the assessment year 2003-04 proposing to raise following substantial question of law :- "(i) Whether on the facts and in the circumstances of the case, the Tribunal ....

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....of assessment, the Assessing Officer held that at the time of inspection, excess stock of cotton was found by the representative of Market Committee, over and above the stock entered in the books of account. The said stock was liable to be added to the income. The assessee explained that there was no excess stock and even the Market Committee did not assess fee on the alleged excess stock, though ....

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....rchased 33.60, 39.80, 29.60 quintals at top, bottom, end of page dated 18-12-2002 of gate inward register (inward serial No. of mandi missing, goods having not purchased through auction). Similarly, the purchases of 770.20 quintals and 671.80 quintals are entered as purchases from M/s. Singla Enterprises at purchase book on 24-12-2002 and 25-12-2002. The entries in gate book of date 24-12-2002 and....