TaxTMI 
TaxTMI 
2021 (7) TMI 353
X X X X Extracts X X X X
X X X X Extracts X X X X
....he order dated 30.9.2019 passed by the Income Tax Appellate Tribunal (hereinafter referred to as "ITAT") in ITA No.2019/Ahd/2010 for the A. Y. 1999-2000 in case of the respondent Assessee. 2. The short facts giving rise to the present appeal are that the respondent - Assessee had filed the return of income for the A.Y. 1999-2000 in respect of which the Assessment Officer had made the assessment vide the order dated 30.3.2002. Being aggrieved by the said order, the respondent - Assessee had preferred an appeal being No.CAB/VI- 176/05-06 before the CIT (Appeals), Vadodara. The CIT (Appeals), Vadodara vide the order dated 15.3.2010 had partly allowed the appeal, against which the present appellant had preferred the appeal being ITA No.2019/....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n of raw material with proportion to the production, excess wastage and also by inflating the expenses of direct cost and selling in Dora Unit, and therefore, the Assessing Officer had not accepted the Books of Accounts of the Assessee for the said Unit and had made addition to the tune of Rs. 3,40,13,300/- as the income of the Assessee. However, the CIT (Appeals) and the ITAT had failed to appreciate that when the Books of Accounts were not accepted by the Assessing Officer, the assessment made by the Assessing Officer under Section 144 of the said Act as per best of his judgement, should have been accepted. 5. The Court does not find any merit in the submissions made by the learned Sr. Standing Counsel for the appellant in view of the ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nder the Companies Act, 1956 and also by the Tax Auditors u/s. 44AB. None of the Auditors have given adverse comments on the records maintained by the company. The appellant manufactures goods which are excisable. The appellant is subject to audit by the excise department. Considering the facts and totality of the case, the addition made by the Assessing Officer without pointing out any defects in the books, is directed to be deleted. This ground of appeal is allowed." 6. The ITAT, while dismissing the Appeal of the Revenue, has relied upon the said findings of the CIT (Appeals) as well as the findings given by it in the case of Assessee for the A.Y. 1998-99 by observing as under:- "51. We have heard the rival submissions....
X X X X Extracts X X X X
X X X X Extracts X X X X
....excess consumption of raw material and there was no justification given by the Assessing Officer for rejecting the Books of Accounts of the respondent Assessee. As there are concurrent findings recorded by both the authorities, the Court is not inclined to interfere with the same, more particularly when the learned Sr. Standing Counsel Mr.Patel for the appellant has failed to point out any question of law, much less substantial question of law being involved in the present appeal. The Supreme Court in the case of M. Janardhana Rao versus Joint Commissioner of Income Tax reported in (2005) 2 SCC 324, while dealing with the scope of Section 260A of the Income Tax Act, 1961, observed as under : - "14. Without insisting on the statemen....