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TMI Blog2016 (9) TMI 301X X X X Extracts X X X X X X X X Extracts X X X X ..... ded in favour of assessee. - D.B. Income Tax Appeal (ITA) No. 21/2001 - - - Dated:- 31-8-2016 - K. S. Jhaveri And Ajay Rastogi, JJ. Mr.P.K.Kasliwal, Counsel for appellant Mr.R.B.Mathur Mr.Nikhil Simlote, Mr.K.D.Mathur Counsel for respondent JUDGMENT 1. By way of this appeal, assessee has challenged the judgment order of the Income Tax Appellate Tribunal whereby the Tribuna ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the income to ₹ 1,00,000/-. 5. At the time of admission, no substantial question of law was framed, however, we consider it appropriate to frame following substantial question of law:- Whether the Tribunal was justified in law in sustaining addition of ₹ 1 lac on estimated basis irrespective of the fact, that the Tribunal has found that provisions under Section 145(2) could ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... accounts by the Assessing Officer and the CIT (Appeals), the ld.Tribunal while considering the books of accounts has appreciated the same and has rightly estimated the income to ₹ 1,00,000/-. 9. We are of the view that after having observations made by the ld.Tribunal in para-3, which read as under:- 3. The reasons taken for rejecting the accounts have duly been considered with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The books of accounts which were submitted by the assessee were in order, there was no basis for the ld.Tribunal to enhance the income to ₹ 1,00,000/-. 11. In our view, while accepting the books of accounts, estimating the income to ₹ 1,00,000/- by the ld.Tribunal is not permissible in law the Tribunal ought not to have estimated income having accepted books of accounts. 12. In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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