1995 (1) TMI 41

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....the case, the Appellate Tribunal was right in holding that the provisions of section 11(4) are not applicable to the facts of this case ? 2. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in deleting the disallowance sustained by the Commissioner of Income-tax (Appeals) towards excessive wastage in newsprint ? 3. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in deleting the additions sustained by the Commissioner of Income-tax (Appeals) towards sale of waste ? 4. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in allowing the trade discount in toto as claimed by the assessee ? ....

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....1(4) of the Act is concerned, the Commissioner of Income-tax (Appeals) agreed with the Income-tax Officer. But, in respect of certain quantum of additions, the Commissioner of Income-tax (Appeals) thought it fit to remit back the issue to the Income-tax Officer for verification. However, on further appeal, the Tribunal considered that the additions made in respect of the excessive waste, sale of waste, trade discount and cash credit are not sustainable. This conclusion was arrived at by the Tribunal on an appraisal of facts arising in respect of the abovesaid four items. Accordingly, the Tribunal held that section 11(4) of the Act is not applicable to the facts of the case and the additions made in respect of the abovesaid four items were d....

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....see furnished the particulars only before the Commissioner of Income-tax (Appeals) and hence, the Commissioner of Income-tax (Appeals) remitted back these matters for verification to the Income-tax Officer. According to learned standing counsel, the Tribunal, without verifying the facts furnished by the assessee before the Commissioner of Income-tax (Appeals), deleted the additions made in respect of the abovesaid four items. Therefore, according to learned standing counsel, the order of the Tribunal in deleting the additions on the merits is not sustainable. But the fact remains that the Tribunal is the highest fact-finding authority. The Tribunal, after considering the facts gathered by the Income-tax Officer and the Commissioner of Incom....