2017 (5) TMI 1405

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....anu Ghildiyal For Respondent : Shambhu Chopra ORDER We have heard Sri Manu Ghildyal, learned counsel for the appellant and Sri Ashish Bansal who has put in appearance on behalf of the respondents. The appeal was admitted on the following two questions of law: "1. Whether on the facts and in the circumstances of the case, the Tribunal is justified in law in deleting the ad....

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....been rejected by the assessing officer. In view of the above, the Tribunal formed an opinion where once the account books are expected to be maintained in the prescribed accounting standard, the assessing officer could not have made any additions towards the sale of rice treating it to be outside the books of accounts or towards investing in stock of rice and wheat outside the books of accounts....