2003 (5) TMI 13

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....J. - Having heard learned counsel for the appellant, we are of the opinion that in this appeal no question of law much less a substantial question of law arises for consideration. The assessee's books of account have been rejected as not disclosing the correct results for the reason that though the assessee has furnished the details about the sale of raw material, it could not produce co-relate....

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....y reducing the turnover by Rs. 9,763, but did not accept the explanation furnished by the assessee for lower GP rate, applied by the Assessing Officer and its contentions about rejection of books and resorting to best judgment assessment under section 145(2) were also rejected. Ultimately, the Tribunal also found that it was a case where the books of account have rightly been rejected by the As....