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TMI Blog2003 (7) TMI 43X X X X Extracts X X X X X X X X Extracts X X X X ..... Act of 1961"), has been preferred by the assessee against the order passed by the Income-tax Appellate Tribunal on April 15, 2002, in I.T.A. No. 402/Ind of 1995 pertaining to the assessment year 1990-91. Before the Income-tax Appellate Tribunal the assessee had raised three grounds. The Appellate Tribunal did not agree with the contention of the assessee with regard to ground No. 2 (wrongly menti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... action of alleged purchase by the assessee to be bogus and the entry made in the trade account as a liability, was, only a paper entry. This finding of fact has been affirmed by the Commissioner of Income-tax (Appeals). The Commissioner of Income-tax (Appeals) has held as under: "3. The learned authorised representative has contended that Mr. Anurag Shrivastava, one of the partners, is a propriet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ointed out that the bill was made on transfer of goods and purchases bills were received afterwards and the goods were in the possession of M/s. Surya Services through delivery challan which can be verified from M/s. Sintex Plast Containers, Kalol (N.G). After considering the facts and submissions of the appellant it is noticed that M/s. Surya Services belonging to the same group was not assessed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and Allahabad High Courts reported in CIT v. Bhaichand H. Gandhi [1983] 141 ITR 67 and Sundar Lal Jain v. CIT [1979] 117 ITR 316, respectively, contended, that section 68 of the Act can be invoked only, when, the books of account of the assessee show the cash entry and not otherwise. We are afraid, such a narrow and restricted interpretation of the provisions, contained in section 68 was advance ..... X X X X Extracts X X X X X X X X Extracts X X X X
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