2020 (5) TMI 56

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....enior Standing Counsel for the revenue.   AVNEESH JHINGAN, J. The assessee is in appeal under Section 260A of the Income Tax Act, 1961 (for short, 'the Act') against the order dated 12.7.2000 passed by the Income Tax Appellate Tribunal, Chandigarh (for short, 'the Tribunal') allowing the appeal of the revenue. Following substantial questions of law have been claimed in the a....

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....e Income Tax Appellate Tribunal was right in sustaining the rejection of the books of account when there was no discrepancy in the books of account subsequent to the search and seizure operations? (e) Whether in the facts and circumstances of the case, the Ld. ITAT was right in sustaining the addition of Rs. 5,41,148/- but not including the amount surrendered in the trading account for calculati....

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....r 1988-89, 2% for the assessment year 1989-90 and 3% for the assessment year 1991-92 and rejected the books of account. The income was assessed applying rate of 2% as shown in the previous year. The assessment was finalised vide order dated 12.3.1993 calculating the total assessable income as Rs. 8,33,845/-. The Commissioner of Income Tax (Appeals) (for short, 'CIT') allowed the appeal on ....