2008 (12) TMI 854

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ppeal has been preferred by the assessee under section 260A of the Income-tax Act, 1961 against the order of the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar passed in ITA No. 614 (ASR) 2004, dated 31-10-2006 and CO. 6 (ASR)/2005, proposing to raise following substantial questions of law:- "i) Whether the Income-tax Authorities having rejected the books of account while determini....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ew was partly set aside by the Commissioner (Appeals) and the Tribunal. The Tribunal held as under:- "7. We have heard the parties and have perused the material brought on record qua this issue. We are at once with the action of the ld. Commissioner (Appeals) in sustaining the rejection of the assessee's books of account by the Assessing Officer. This is so, because the assessee had not main....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....avention of the principles of natural justice, condemning the assessee unheard. Then, in the first place itself, the Assessing Officer went wrong in turning to the case of another party, when the past history of the assessee itself would have served as the best guide to arrive at the GP rate for the year under consideration in the absence of documents/details as above and the assessee's books ....