2003 (4) TMI 55 - HC - Income Tax

Questions of fact or question of law - Admittedly, the proviso to section 145 of the Income-tax Act, 1961, is attracted. On the facts and material produced before the Assessing Officer, the additions are made on account of sales, purchases and brokerages. Whether the sales, purchases and brokerages were genuine or not is basically a question of fact. In our view, the finding of fact is not perverse. The appeal stands dismissed.

Summary

The High Court of Rajasthan dismissed the appeal regarding the rejection of books of account and estimation of sales under section 145 of the Income-tax Act, 1961. The court found the additions on account of sales, purchases, and brokerages to be genuine based on available evidence. The appeal was dismissed as no case for interference was made out.