1995 (1) TMI 23

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....arise out of the order of the Tribunal dated September 29, 1980, and, therefore, the Income-tax Appellate Tribunal be directed to refer the same : " 1. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in upholding the order of the Appellate Assistant Commissioner deleting the addition of Rs. 1,79,059 ? 2. Whether, on the facts and in the circumstances of the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Haresh Traders simply issued the bills and no actual business was carried on by the concern. The reassessment proceedings were initiated and the Income-tax Officer recorded a finding that the purchase transaction was not genuine and the purchases were entered with a view to reduce the profit of the trader. But an addition to Rs. 1,79,058 was made on this account. A further addition of Rs. 13,075 ....