TaxTMI 
TaxTMI 
2018 (12) TMI 992
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....come Tax Act, 1961 (the Act) challenges the order dated 28th September, 2015 passed by the Income Tax Appellate Tribunal (the Tribunal). This appeal relates to Assessment Year 2009-10. 2. The Revenue urges following questions of law for our consideration : (i) Whether on the facts and in the circumstances of the case and in law, the Tribunal erred in upholding the order of the CIT(A) thereby giv....
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....crutiny proceeding, the respondent was unable to produce its physical books of accounts, evidences for sales, purchases and expenses claimed in the view of the same being destroyed due to flood on 8th July, 2009. The respondent assessee filed necessary evidence indicating the destruction of physical accounts due to heavy rains on 8th July, 2009. Besides, it also filed evidences of its sellers and ....
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.... Officer did not carry out any further verification in regard to it. The CIT(A) also recorded the fact that the return as submitted should be accepted keeping in view of the fact that there was a sharp and continuous fall in nickel prices which is the main ingredient in stainless steel. Further, the appellant has made more than 90% of the sale during the year, out of the opening stock held by it a....
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.... that confirmations of sales and purchases by the respondent were also filed. Besides, documentary evidence to support the assessee's claim containing sufficient particulars on the basis of which requisite verification from the parties mentioned therein could have been done by the Assessing Officer, if he has any doubt in regard to the documents submitted. Further, the Tribunal notes that the ....