TaxTMI 
TaxTMI 
2003 (7) TMI 760
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....None JUDGMENT 1. This appeal under Section 260A of the Income Tax Act, 1961 (hereinafter for short, "the Act of 1961"), has been preferred by the assessee against the order passed by the Income Tax Appellate Tribunal on April 15, 2002, in I.T.A. No. 402/Ind of 1995 pertaining to the assessment year 1990-91. 2. Before the Income Tax Appellate Tribunal the assessee had raised three grounds.....
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.... the proprietor of Surya Services and after examining the bank accounts of the Surya Services, found that the whole transaction of alleged purchase by the assessee to be bogus and the entry made in the trade account as a liability, was, only a paper entry. This finding of fact has been affirmed by the Commissioner of Income Tax (Appeals). The Commissioner of Income Tax (Appeals) has held as under;....
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....t is April 15, 1989. About the cheque of the Assessing Officer that there was pre-dating of invoices from Surya Services, it is pointed out that the bill was made on transfer of goods and purchases bills were received afterwards and the goods were in the possession of M/s. Surya Services through delivery challan which can be verified from M/s. Sintex Plast Containers, Kalol (N.G.). After consideri....
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....essee placing reliance on the decision of the Supreme Court reported in Baladin Ram v. CIT [1969] 71 ITR 427 (SC) and the decisions of the Mumbai and Allahabad High Courts reported in CIT v. Bhaichand H. Gandhi [1983] 141 ITR 67 (Bom) and Sundar Lal Jain v. CIT [1979]117 ITR 316 (All), respectively, contended, that Section 68 of the Act can be invoked only, when, the books of account of the assess....