9911796707
TMI Blog2004 (1) TMI 40X X X X Extracts X X X X X X X X Extracts X X X X ..... ial to support the finding?" - Tribunal ought to have examined the matter as to why it would like to interfere and reduce the amount of Rs. 2 lakhs to Rs. 1.5 lakhs or ought to have arrived at a conclusion that addition is not required to be made - After holding that the Assessing Officer had not given the basis for arriving at the estimate of Rs. 2 lakhs it committed the same error by ordering an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibunal. The question is about the perversity of the finding with regard to the addition of Rs. 2 lakhs by the Assessing Officer, which has been reduced to Rs. 1.5 lakhs by the Appellate Tribunal. On page 25 of the paper book, the Assessing Officer has held as under: "The views of the assessee are considered and are reasonable. However, there are a number of instances where order/estimate forms a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with its customer, we therefore, hold that the addition for excess stock was bound to be upheld in the case of the assessee. However, the Assessing Officer did not give complete basis for arriving at the estimate of Rs. 2 lakhs. We, therefore, keeping in view the entirety of the facts, circumstances of the case and the surrender so made by the partners vis-à-vis the income surrendered by the partn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Tribunal. However, on behalf of the Revenue, it is stated that only quantification is required to be carried out. On behalf of the appellant, it was urged that there is no addition required to be made on account of unaccounted transaction as, whatever has been declared has been accepted. We are not entering into the merits of this part of the controversy. We leave it to the Tribunal to decide t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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