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TMI Blog2015 (1) TMI 244X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 145(2) of the Act is without any basis - there is plethora of evidence brought out by the revenue authorities in support of the inference that the assessee has systematically indulged in suppression of operation receipts as well as consultation receipts from the patients for both the AY under appeal - This is clearly a case where provisions of Section 145(2) have been rightly invoked and estimate of professional income has been made by the AO by invoking the provisions of sec.145(2) – the Tribunal ought to have relied upon the findings of fact recorded by the CIT(A), which are based on specific evidence brought on record - as regards Payal Medical Stores is concerned, the assessee could not have been assessed u/s.145(2) - thus, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cation was sent to the assessee informing him that the case would be decided on merits. On 24.03.1993 the assessee furnished details in response to the show cause Notice. Thereafter, on 25.09.1990 search u/s.132 of the Act was carried out at the residential premises of the assessee and survey u/s.133A was carried out at the clinic of the assessee. 4. During the aforesaid operation, certain incriminating papers were seized. The statements on oath of patients were recorded. A survey u/s.133A of the Act was carried out at the shop of the Chemist and certain papers were impounded and statements were recorded. Thereafter, assessment scrutiny was undertaken and ultimately, order dated 30.03.1993 u/s.143(3) of the Act was passed by the A.O. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. Whether in the facts and circumstances of the case, and in light of the provisions of Section 145 of the Income Tax Act, 1961, the finding reached by the Income Tax Appellate Tribunal, in sustaining addition of ₹ 3 lakhs as suppressed income of the appellant, is perverse, contrary to the evidence on record, ex facie illegal and such as no reasonable person could have reached? 2. Whether in the facts and circumstances of the case, the finding reached by the Income Tax Appellate Tribunal, that the provisions of Section 145(2) of the Income Tax Act, 1961, are attracted, is legally justified? 7. We have heard learned counsel for both the sides. Before we examine the order passed by the Appellate Tribunal, it would b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. The Appellate Tribunal has not appreciated the matter in its proper perspective and the invocation of Section 145(2) of the Act is without any basis. The provision of Section 145(2) of the Act reads as under; 145. Method of accounting: (1) (2) The Central Government may notify in the Official Gazette from time to time accounting standards to be followed by any class of assessees or in respect of any class of income. 9. At this juncture, it would be relevant to refer to the following observations made by the Appellate Tribunal in Para-15 of its order; 15. We have carefully considered the rival submissions and also gone through the orders of the revenue authorities as well as the paper boo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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