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TMI Blog2008 (8) TMI 164X X X X Extracts X X X X X X X X Extracts X X X X ..... count were not properly maintained and suffered from deficiencies, the Assessing Officer was justified in computing income on reasonable basis in appropriate manner - 404 of 2005 - - - Dated:- 29-8-2008 - SWATANTER KUMAR C.J. and A.P. DESHPANDE J. Vipul Shah for the appellant. R. Ashokan for the respondent. JUDGMENT The judgment of the court was delivered by SWATANTER KUMAR, C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issioner of Income Tax v. S.P. Jain, (1973) 87 ITR 370 that where the Appellate Tribunal had misunderstood the statutory language or has arrived at a finding on no evidence, proper construction of statutory language being the matter of law and where the Tribunal acts with material irregularity, the findings would be vitiated and the High Court would have jurisdiction to interfere in the findings ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sing Officer was justified in computing income on reasonable basis in appropriate manner. 3. It is relevant to refer to Dhondiram Dalichand v. Commissioner of Income Tax, [1971] 81 ITR 609, where the Division Bench of this court assessing facts of the case concluded that absence of qualitative tally about stocks of purchase and sale were sufficient material to enable the department to proc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at if true income, profit and gains cannot be ascertainedon the basis of assessee's method or where no method is regularlyemployed, the income must be computed upon such basis and insuch manner as the Income Tax Officer may determine. 5. In United Commercial Bank, Calcutta v. Commissioner of Income-tax, [1999] 240 ITR 355 (SC);(1999) 8 SCC 338, the Supreme Court went to the extent of holdi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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