2012 (3) TMI 628

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.... in the instant appeal is that the books of accounts have been wrongly rejected by the assessing officer, Commissioner (Appeal) and Tribunal. 2. It is submitted by learned counsel appearing on behalf of the appellant that books of accounts could not have been rejected in view of the audit report and report of chartered accountants. Error has been committed by the concerned authorities and the T....

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....sed;-it was also not possible to work out the exact consumption of the raw material vis-a-vis production. It was also not possible to verify the expenditure incurred on taking the material. Hence, order passed by the assessing officer and the findings recorded by the Commissioner (Appeal) have been upheld by the Tribunal. 5. We find that merely on the ground of audit report or certificate of ch....