2008 (1) TMI 354

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...., T.S. Arunkumar and P. Balakrishnan for the respondent. JUDGMENT The judgment of the court was delivered by C. N. Ramachandran Nair, J. - Even though four questions are raised, actually only two issues are involved which pertain to addition of estimated unpaid dividends from chitty business and estimation of foreman's commission on the date of auction. We have heard counsel appearing for....

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....first appellate authority as well as the Tribunal did not approve the addition under Section 41(1) and therefore, they deleted the same. We agree with the orders of the Tribunal and the appellate authority because Section 41(1) has no application in this case. It was for the assessee to have proved with evidence before the Assessing Officer that dividend though not distributed along with subscript....

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....Strangely the officer has not considered any of these and petitioner admittedly did not produce books of accounts. We are not in a position to uphold the Tribunal's order confirming the first appellate order which is based on certain assumption of facts. We, therefore, set aside the orders of the Tribunal and that of the first appellate authority and remand the matter to the Assessing Officer for ....