2017 (1) TMI 1493

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....facts and circumstances of the case the ITAT was justified in law in deleting the additions of Rs. 92,630/- made on account of loose soap bricks found unrecorded during the course of search? 2. Whether in the fact and circumstance of the case the ITAT was justified in deleting the addition of Rs. 3,75,94,225/- on account of suppressed sales? 3. Whether in the fact and circumstance of the case the ITAT was justified in not considering the amendment made with retrospective effect from 01.07.1995 in Section 158BB of the Act? 4. Whether in the fact and circumstance of the case the ITAT was justified in law in not accepting the statement of Accountant recorded u/s.132(4) of the Act and which are having binding value? 5. Whether in th....

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....aj in DB Income Tax Appeal No.65/2000 along with other connected matters, decided on 14.09.2016, which reads as under: "1. By way of these appeals, the Department has challenged the judgment and order of the Tribunal whereby the Tribunal has dismissed the appeals preferred by the Department and allowed the appeals preferred by the assessee against the order of the CIT (A) whereby the CIT (A) has partly allowed the appeal of the assessee. The cross-objections have also been filed by the respondent-applicant. Since controversy raises identical questions of law and facts, all these cases are decided by this common judgment and order. 2. The facts giving rise to the appeals are that for the assessment years 1989-90 and 1997-98, block assee....

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....d ? (2) Whether in the facts and circumstances of the case, the ITAT was justified in interfering with the finding of the A.O. regarding weight gain in soap manufacturing process which was duly confirmed by the CIT (A) and the same was also supported by the documentary evidence as well as practical exercise done at the time of survey itself ? (3) Whether in the facts and circumstances of the case, the ITAT was justified in setting aside the addition of interest income on the ground that it was not received whereas the factual position was not in dispute that the loan was advanced and the interest income was undisclosed? (4) Whether in the facts and circumstances of the case, the ITAT was justified in setting aside the interest inco....

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....ity of soap covered by the publication is different from the quality of soap manufactured by the assessee. This is evident not only from the comparative sales prices between the component mix of the two. In so far as the report of Rajasthan Consultancy Organisation Ltd. Is concerned, we find that the organisation is sponsored by several Financial Institutions/Banks and all are public sector undertakings. Thus, this report is more credible/reliable. Moreover, the report is based on inspection of assessee's place and actual physical verification of process and production. We do not accept the contention of the Id. D/R that this report should not be believed. However, considering the facts and said report, we hold that it would be fair and rea....