1991 (3) TMI 377

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..... ing to the question of limitation. This has been considered by the Tribunal, in paragraph 6 of its order. Reliance was placed on section 19 to contend that the assessment was barred by limitation. There is no question of any escaped assessment, as the very first assessment was only to be concluded. The Tribunal understood the contention, and rightly rejected it by observing: "The assessment is a .....

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..... unctoriness in the performance of its duty in relation to the maintenance of the accounts, by filing a compounding petition and obtaining relief therein. These are sufficient circumstances justifying the Tribunal to uphold the rejection of the books of accounts. 4.. The rest is a matter of honest estimate. The Tribunal has adverted to various important factors in considering whether the estimate .....

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