2001 (8) TMI 21

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....AR LAL GUPTA J.-The dispute relates to the assessment year 1986-87. The assessee filed a return declaring the income of Rs.31,430. The assessment was completed by the Assessing Officer vide order dated January 30, 1990. The taxable income was fixed at Rs.4,86,550. This addition had been made on the basis of some record relating to the assessment under the Sales Tax Act. The assessee filed an appea....

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....eleting the trading addition of Rs.80,757 confirmed by the Commissioner of Income-tax (Appeals) by ignoring the evidence contained in the seized books of account and by relying on entries in journal which remained in the custody of the assessee when the entries in the journal were not reflected in the seized books of account and were also unsupported by any independent evidence like freight, carta....

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....the assessing authority under the Sales Tax Act. It is still further the admitted position that the appeal filed by the assessee against the order of the Assessing Officer before the Joint Excise and Taxation Commissioner was accepted. The order, which was the basis for additions, was set aside. It is on this basis that the Tribunal has found that the additions of Rs.57,595 and Rs.80,757 were not ....