9911796707
TMI Blog2001 (3) TMI 1041X X X X Extracts X X X X X X X X Extracts X X X X ..... nsels for the parties. 2. This is an application under section 256(2) of the Income-tax Act, 1961 ('the Act'), requiring this Court to issue a direction to the Appellate Tribunal, Jaipur Bench, Jaipur, to state the case and refer the following question of law said to be arising out of the Tribunal's order passed in IT Appeal No. 1578 (Jp.) of 1994 relating to assessment year 1986-87 decided on 5- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r. 3. We have heard the learned counsels for the parties. 4. Mr. Bhandawat urged that the account of suppressed sales would include the amount of purchases of the goods which have been shown by the assessee and not disclosed in its books of account and, therefore, higher gross profit rate was applied in estimating income on best of its judgment, inasmuch as, the assessee must have not shown the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee has properly explained along with supportive material that the assessee has in fact billed lesser amount of consideration because the purchasers have accepted lesser amount of goods, therefore, this could not have been added in the income. This part of the finding has not been made subject-matter of the question sought to be referred to this Court. It appears that this kind of questi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per cent. The maximum 24.01 per cent relates to the assessment year 1989-90 which subsequently, has been 42 per cent in the assessment year 1991-92. The second circumstance which the assessee has pointed out before the Tribunal was that the assessing authority has wrongly placed reliance on two separate account books one of which pertains to the accounting year ending on 30-6-1986, relating to th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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