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TMI Blog2011 (12) TMI 148X X X X Extracts X X X X X X X X Extracts X X X X ..... as produced before him. Such finding is perverse, and cannot be sustained therfore, the matter is remitted back to the Tribunal to decide the appeal afresh. - Decided in favor of Revenue. - IT APPEAL NOS. 107, 113 and 114 OF 2005 - - - Dated:- 8-12-2011 - HEMANT GUPTA AND G. S. SANDHAWALIA, JJ. Inderpreet Singh for the Appellant. Sandeep Chabra for the Respondent. ORDER Hemant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ounts were considered by CIT (A) while in fact no such books of accounts/purchase/sales vouchers were produced before the Ld. CIT(A). (iii) On the facts and in the circumstances of the case, the Hon'ble ITAT has erred in law in holding that Sh. Jagjit Singh was not well conversant with the consumption of coal over purchase and sale of bricks as other partners was looking after the manufacturing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dings, the assessee did not produce the books of account or the vouchers. Consequently the assessment proceedings were completed under Section 144 of the Act. The Assessing Officer found that the assessee has manufactured bricks of the value of Rs. 32 lacs. By applying net profit rate of 10%, the profit of Rs. 3,20,000/- was arrived at by the Assessing Officer. 4. The assessee filed an appeal be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s were produced before CIT(A) but could not be produced before the Assessing Officer. Learned counsel for revenue vehemently argued that the finding recorded by the Tribunal that the books of accounts were produced before the learned CIT(A) suffers from perversity and is based upon incorrect facts. In fact, learned CIT(A) has recorded that the books of accounts were not produced before him but app ..... X X X X Extracts X X X X X X X X Extracts X X X X
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