| The Tax Publishers2019 TaxPub(DT) 5193 (All-HC) : (2019) 418 ITR 0179 : (2019) 310 CTR 0135 : (2019) 267 TAXMAN 0262 INCOME TAX ACT, 1961
Section 145(3) Section 260A
Rejection of books of account had arisen because assessee could not produce details of weavers to whom heavy payments had been made. Finding recorded by the Tribunal regarding rejection of books was concluded finding of fact recorded on the basis of material and evidence on record and no substantial question of law was emerging from Tribunal's order. Therefore, appeal was dismissed.
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Appeal (High Court) - No substantial question of law - AO rejected assessee's books -
Assessee was engaged in production of rugs. By way of appeal filed under section 260A challenged order of Tribunal upholding rejection of assessee's books by AO as per section 145(3).Held: Rejection of books of account had arisen because assedssee could not produce details of weavers to whom heavy payments had been made. Finding recorded by the Tribunal regarding rejection of books was concluded finding of fact recorded on the basis of material and evidence on record and no substantial question of law was emerging from Tribunal's order. Therefore, appeal was dismissed.
REFERRED : Brij Lal & Ors. v. CIT (2010) 328 ITR 477 (SC) : 2010 TaxPub(DT) 2312 (SC), CIT, Shimla v. Greenworld Corporation and M/s. The Green World Corporation v. ITO, Parwanoo & Anr. (2009) 314 ITR 81 (SC) : 2009 TaxPub(DT) 1713 (SC), Kachwala Gems v. Jt. CIT (2007) 288 ITR 10 (SC) : 2007 TaxPub(DT) 837 (SC),M Janardhana Rao v. Jt. CIT (2005) 273 ITR 50 (SC) : 2005 TaxPub(DT) 1280 (SC),CIT v. Indo Nippon Chemicals Co. Ltd. (2003) 261 ITR 275 (SC) : 2003 TaxPub(DT) 972 (SC),Kamala Ganapathy Subramaniam & Anr. v. Controller of Estate Duty (2002) 253 ITR 692 (SC) : 2002 TaxPub(DT) 244 (SC),Bharat Hari Singhania v. CWT & CWT v. Sharbati Devi Jhalani (1994) 207 ITR 1 (SC) : 1994 TaxPub(DT) 1032 (SC), Shri Venkteshwar Sugar Mills v. CIT (A) Lucknow (2012) 341 ITR 588 (All) : 2012 TaxPub(DT) 948 (All-HC), Utkal Road Lines v. Registrar, ITAT, (2011) 336 ITR 149 (Ori) : 2010 TaxPub(DT) 449 (Ori-HC),New Plaza Restaurant v. ITO (2009) 309 ITR 259 (HP) : 2009 TaxPub(DT) 691 (HP-HC), Ram Jhanwar Lal v. ITO (2010) 321 ITR 400 (Raj) : 2010 TaxPub(DT) 135 (Raj-HC),Sanjay Oil Cake Industries v. CIT (2009) 316 ITR 274 (Guj) : 2009 TaxPub(DT) 370 (Guj-HC) and Zora Singh v. CIT (2008) 296 ITR 104 (P & H) : 2008 TaxPub(DT) 515 (P&H-HC).
FAVOUR : Against the assessee.
A.Y. :
INCOME TAX ACT, 1961
Section 260A
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