TaxTMI 
TaxTMI 
2008 (10) TMI 61
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....hallenge the order of the I.T.A.T. dt. 20.1.2006. The appeal was admitted on 12.12.2006 by framing the following substantial question of law:- "Whether the order of ITAT is vitiated on account of non-consideration of material evidence and consideration of totally irrelevant material in reducing the additions made in the accounts of assessee by assessing officer?" The necessary facts are th....
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....er was challenged in appeal. The learned Commissioner partly allowed the appeal, and reduced the addition. Both the parties filed appeals in the Tribunal. The learned Tribunal found that it was not in dispute that the assessee had recorded bogus purchase in his books of accounts, it was found that bogus purchase was shown with a view to show excessive expenses in the purchase of raw material. How....
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...., the books of accounts had been rejected, and the matter was proceeded under Section 145. Then, the question remained of determining the income on the basis of best judgment assessment. At this point, it is significant to note, that the gross sales figures for the relevant year is not in controversy, in the sense, that whatever bogus sales have been found by the Assessing Officer, if they w....