1997 (10) TMI 32

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.... 30, 1988, declaring an income of Rs. 36,980. A survey was conducted at the business premises of the assessee on November 1, 1988, under section 133A of the Act. During the course of survey, it was noticed that sales recorded in the three bill books were not shown in the regular books of account. Shri Vijay Kumar, a manager of the firm, expressed his inability to explain why sales recorded in the three bill books have not been entered in the books of account. Smt. Paramjit Kaur, a partner of the assessee-firm, admitted that the sales noted in the books of account. Thereafter, the Assessing Officer, called upon the respondents to produce the books of account, who in turn conveyed to the petitioner that the same had been lost in transit while....

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....al confirmed the addition made by the Assessing Officer at Rs. 2,80,393 but deleted the enhanced addition made by the Commissioner of Income-tax (Appeals). The application filed by the Revenue under section 256(1) of the Act has been dismissed by the Tribunal. We have heard Shri B. S. Gupta, learned counsel for the Revenue, and Shri A. K. Mittal, learned counsel for the assessee, and have perused the order passed by the Tribunal. While dealing with the argument advanced on behalf of the assessee regarding the enhancement, the Tribunal has recorded the following finding : "Ground No. 3 relates to the addition of Rs. 1,65,761 on account of variation in the accounts of certain parties. The Assessing Officer obtained copies of the asse....