9911796707
TMI Blog2008 (6) TMI 171X X X X Extracts X X X X X X X X Extracts X X X X ..... for the purchase or sales – AO was justified in taking the transfer value as unaccounted sale and consequently disallowing the loss claimed by the assessee - 222 of 1999 and 27035 of 1999 - - - Dated:- 10-6-2008 - C.N. RAMACHANDRAN NAIR and V.K. MOHANAN JJ. P. Balachandran for the assessee. P.K.R. Menon for respondent No. 1. George K. George for respondent No. 2. JUDGMENT Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... us because the appeal arising from the same order of the Dy. Commissioner Income-tax (Appeals) was already disposed of, after hearing both sides. In the appeal, the assessee has raised the question pertaining to disallowance of loss confirmed by the Tribunal and denial of depreciation which was also confirmed by the Tribunal. In the original petition the prayer is for restoring cross objection alo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... value of Rs.2,21,059/- from her proprietory shop to the another business concern which is a Kalyanamandapam maintained by the assessee. The Department conducted a survey in the assessee's premises on 29.6.1992. The assessee's Manager gave a statement to the effect that the goods stated to have been transferred by the assessee to the Kalyanamandapam were not in fact transferred and the articles we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fectly justified in rejecting the books of accounts. When the rejection of books of account was proper and when the assessee's manager gave statement contrary to the assessee's statement, we do not think any further enquiry or evidence need be taken by the Tribunal. Therefore, we do not find any justification in remanding the case. Appeal to this Court is maintainable against the order of the Tri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... osed of answering the questions referred against the assessee and in favour of the Department. 5. Since the Tribunal has decided the appeal on merits after hearing both sides and we upheld the same in the Income-tax reference case and since the cross objection arises from the same order of the appellate authority, against which appeal was filed, we do not find any justification to interfere wi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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