2001 (3) TMI 54

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... learned senior counsel who has also produced certain additional material. His principal submission is that irrespective of the quality of the order passed by the Tribunal in this case the interference by the Tribunal was perfectly legitimate. If learned senior counsel was right in his argument then the necessary sequitur would be that no interference would have been called for by the High Court a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....urists. The Income-tax Officer has taken the trouble of serving summons on all the 25 of them and the result was that 23 of them could not be traced and the remaining two to whom summons were served did not appear. In fact, the postal endorsement as far as the 23 so called purchasers were concerned was to the effect that there was no such addressee. It is true that Mr. Sarangan did mention to us t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ention that the transactions were cash transactions, does lend a level of doubt to the genuineness of the explanation. We then find that the Income-tax Officer has also taken the trouble to verify from the consumption of the electricity that there has been substantial increase in this head. The explanation of the assessee is that the machinery is old and that therefore the consumption has gone up ....