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TMI Blog2017 (5) TMI 1405X X X X Extracts X X X X X X X X Extracts X X X X ..... judgment and order of the Tribunal reveals that the assessee has maintained the books of accounts in accordance with the prescribed standard as per Section 145 of 'the Act'. The account books have not been rejected by the assessing officer. In view of the above, the Tribunal formed an opinion where once the account books are expected to be maintained in the prescribed accounting standard, the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llowing two questions of law: 1. Whether on the facts and in the circumstances of the case, the Tribunal is justified in law in deleting the additions of ₹ 30,73,542/- made on account of sale of rice out of books of ₹ 28,76,125/- for investment in stock out of undisclosed sources? 2. Whether on the facts and in the circumstances of the case, the Tribunal is justified in law i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itions towards the sale of rice treating it to be outside the books of accounts or towards investing in stock of rice and wheat outside the books of accounts. In view of the above, the controversy as raised above in this appeal stands duly covered by the Tribunal and it cannot be said that any investment was done beyond the books of accounts. We find no substance in this appeal and the quest ..... X X X X Extracts X X X X X X X X Extracts X X X X
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