9911796707
TMI Blog2008 (4) TMI 269X X X X Extracts X X X X X X X X Extracts X X X X ..... etitioner's Counsels - D.D. Chopra Respondent's Counsel - and W.U. Ahmad JUDGMENT These three appeals under Section 260-A of the Income Tax Act, 1961 (hereinafter referred to as the "Act") are directed against the order of the Tribunal dated 28th of November, 2003 for the assessment years 1992-93, 1990-91 and 1991-92 respectively. The appeals have been admitted on the following questions :- "(1) Whether, on the facts and circumstances of the case, the Tribunal was legally justified in holding that the discount of Rs.6,67,458/- was actually given to the customers, when some of the supporting vouchers, which were test checked, were found to be forged. (2) Whether, on the facts and circumstances of the case, the Income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... British Paints [1991] 188 ITR 44 (S.C.) that if accounting system does not disclose true and proper income the assessing officer is entitled and has duty to adopt appropriate computation to determine true income." The brief facts of the case are that the respondent-dealer was carrying on the business of tractors, motorcycle and their spare parts. It has given discount to its customer. Such discount has been disallowed by the Assessing Authority on the ground of certain discrepancies being found in some of the vouchers. Being aggrieved by the order, the assessee filed the appeal before the Commissioner of Income Tax (Appeals). The Commissioner of Income Tax (Appeals) upheld the disallowance of such discount. Being aggrieved by the orde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ehalf of the appellant-assessee that in the assessment year 1993-94 on reduced sales, payment of discount at Rs.2,14,535/- has been allowed by the Assessing Officer in the assessments made u/s 143(3). Similarly, the discounts were allowed in the past as per the information enclosed at page 1 of the paper book. Merely because in some cases, the recipients of commission were not those persons who purchased the tractors or there was a change in signature on account of language and the appellant-assessee gave good account of nine instances taken into account by the Assessing Officer out of 174 vouchers and on account of the same, almost entire discount could not be disallowed. Even the nine instances had properly been explained as to why there ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore the Assessing Authority. The vouchers were also produced for verification. In some of the cases, some discrepancy was, of course, pointed out but it appears that no case has been made out that the discount has actually not been paid by the assessee. The Tribunal on a consideration of the entire facts and circumstances allowed the discount. The Tribunal further held that the similar discount has been allowed in the assessment years 1987-88 and 1993-94. In our view, the findings of the Tribunal are findings of fact based on the appreciation of the evidence on record. The learned counsel for the appellant is not able to show that the findings are perverse and based on no material. He is also not able to show that what new case has been set ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
