9911796707
TMI Blog2007 (10) TMI 236X X X X Extracts X X X X X X X X Extracts X X X X ..... dispose of two appeals being I.T.A. Nos. 175 and 176 of 2007. The assessee has filed the instant appeal under section 260A of the Income-tax Act, 1961, against the order dated October 31, 2006, passed by the Income-tax Appellate Tribunal Chandigarh (for brevity "the Tribunal") in I.T.A. No. 398/Chandi/2004 in respect of the assessment year 2000-01. It has been claimed that the following substant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... egally sustainable the same being based on mere presumptions and surmises?" Brief facts of the case are that the assessee-firm is deriving its income from transportation contracts. In the year 1999-2000, a year prior to the relevant assessment year 2000-01, it disclosed transportation receipts of Rs. 1,88,54,650 but declared a net profit of Rs. 78,160 only after debiting expenses on account of tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ontractors loading and unloading charges at 56.2 paise and 86.5 paise per bag for loading and unloading of wheat bags of 50 kg. weight. The Assessing Officer further found that the assessee is claimed to have paid the labourers at the rates more than the market rates. A show-cause notice was issued to the assessee to which no reply was furnished. The Assessing Officer accordingly recorded a findin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... idence to record a conclusion contrary to the one recorded by the Tribunal. There is no standard method or chart available which may constitute the basis for us to say that the norm has been violated and according to the principles of law the addition sustained by the Tribunal suffers from an error of law or jurisdiction. There is thus no substantial question of law which would arise for determina ..... X X X X Extracts X X X X X X X X Extracts X X X X
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