2009 (12) TMI 558

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..... ty to the parties - Tribunal should call for the books of account and examine whether inadequacies of the accounts and the reasons stated by the Assessing Officer for rejection of it exist and then decide the appeal - 1259/09 - - - Dated:- 3-12-2009 - RAMACHANDRAN NAIR C. N. and MOHANAN V. K. JJ. Judgment: C. N. Ramachandran Nair J.- Heard the standing counsel appearing for the a .....

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..... was Rs.25 lakhs and result is a loss. The result of the assessee's business in res-taurant led to a nominal profit of Rs. 23,558, where the turnover was over Rs. 23 lakhs. The assessee claimed depreciation on two imported cars which were not allowed by the Assessing Officer. We find from the assess-ment order that the Assessing Officer has found that expenses on various items were covered by self .....

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..... act finding authority examine as to which authority's finding is correct. We are obliged to interfere with the Tribunal's order because the Tribunal has not exercised its jurisdiction properly and fairly. We, therefore, set aside the order of the Tribunal and remit the matter to the Tribunal to re-examine the appeal after giving opportunity to the parties. We make it clear that the Tribunal should .....

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