2004 (12) TMI 717

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.... and George K. George, Advs JUDGMENT K. S. Panicker Radhakrishnan, J. 1. Assessment years relate to 1990-91 and 1991-92 respectively. When the matter came up for admission, this Court framed the following questions of law : "(1) Whether the Tribunal was justified in sustaining the gross profit addition for the asst. yr. 1991-92 amounting to Rs. 87,277 by enhancing the gross profi....

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....ection 148 was served with the previous approval of the Jt. CIT. Return was filed only on 15th March, 2000 declaring total income of Rs. 25,250. Return was processed under Section 143(1) and notice under Section 143(2) was issued. Assessing authority noticed that assessee was doing wholesale business in liquor and on scrutiny of the P&L a/c, it is seen that GP adopted by the assessee is only 3.98 ....

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....the appellant neither in the grounds of appeal nor in statement of facts and not so also written submissions that defect-free accounts have been maintained by the appellant. In the type of business being carried out by the appellant, it is certain and definite that accounts are being always rejected by the AO. The non-co-operation at the appellate stage and not divulging any more information over ....

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....e to the decisions in CIT v. Maharaja Shree Umed Mills Ltd., Asstt. CIT v. Punjab Machinery Works (P) Ltd. (2003) 176 Taxation 53 (Trib), CIT v. Gotan Lime Khanij Udyog, Vel Metal Industries v. State of Tamil Nadu: (1988) 68 STC 55 (Mad) and Ratna Cafe v. State of Madras (1993) 33 STC 39. We find it difficult to accept the contention of the assessee. Taking into consideration the entire facts, the....