2016 (12) TMI 416

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....Agarwal,A.Kumar,A.N.Mahajan,D.Awasthi,G.Krishna,R.K.Upadhyay,S.Chopra ORDER Heard Sri S.D. Singh, learned Senior Counsel assisted by Sri Harshvardhan Gupta and Sri Krishna Agarwal, learned Counsel for the department. This is an assessee's appeal under Section 260A of the Income Tax Act, 1961 against an order of the Tribunal dated 13.10.2006 for the assessment year 1997-98. The questio....

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.... Gitanjali, the A.O. based on A.D.I's report dated 27.-2-97 has estimated expenses under various heads at Rs. 7,97,547/-. The perusal of this report clearly shows that there is absolutely no basis for the estimates. No bills or vouchers have been collected from the person's concerned to show that appellant showed less expenses under any head. The bills and vouchers enclosed with the rport ....