2026 (8) TMI 56

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....r. K.K. Bissa. For Respondent(s) : -- ORDER: 1. The present Income Tax Appeal has been filed against the order dated 22.02.2024 passed by the Income Tax Appellate Tribunal (for short, "Tribunal") whereunder, the appeal preferred by the assessee was allowed and the additions made by the assessing officer vide order dated 30.12.2019 and sustained by the CIT (Appeals) vide order dated 08.01.....

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....ection and nonacceptance of the books of account were based on a comparison of the sale transactions undertaken by the assessee with those which are in question. Therefore, the findings of the Tribunal suffer from perversity. 4. We have gone through the assessment order, the Order passed by the Tribunal and the evidence on record. 5. The assessment proceeded on the premise that the sales whi....

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.... incorrect. The entire genesis and foundation of the present proceedings was the abnormal sale transactions effected on a particular date. The sales which are in question and the comparative sales were undertaken in the entirely different parameters and circumstances. The abnormal sale transactions might be for the reason of heavy demand under special circumstances, i.e. demonetization which neces....