9911796707
TMI Blog2025 (1) TMI 577X X X X Extracts X X X X X X X X Extracts X X X X ..... r or any other evidence to indicate the receipt of raw material in the factory. Thus, the finding with regard to the addition is based on meticulous appreciation of evidence on record. The aforesaid finding of fact by no stretch of imagination can be said to be either perverse or based on no evidence. Substantial question of law framed by this Court is answered against the assessee. - THE HON BLE THE CHIEF JUSTICE ALOK ARADHE And THE HON BLE SRI JUSTICE J. SREENIVAS RAO FOR THE PETITIONER : A V KRISHNA KOUNDINYA FOR THE RESPONDENT : K MAMATA JUDGMENT ( Per the Hon ble the Chief Justice Alok Aradhe ) Mr. A.V.A. Siva Kartikeya, learned counsel appears for the appellant/assessee. Mr. J.V. Prasad, learned Senior Standing Counsel for Income-ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Appellate Tribunal by an order dated 17.06.2002 set aside the order passed by the Commissioner of Income-tax (Appeals) and remitted the matter to the Assessing Officer to put the material collected and relied on by the Assessing Officer to the assessee and call for the explanation and reframe the assessment. 4. In pursuance of order of remand, a notice under Section 143(2) of the Act was issued to the assessee and the material collected and relied on by the Assessing Officer was put to the assessee and the assessee was asked to furnish its explanation as to why the purchases worth Rs.25,88,026/- should not be disallowed as unproved cash purchases. The assessee furnished a written reply on 11.02.2004. The assessee however did not adduce an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ither produced the stock register nor any other evidence to indicate the receipt of raw material in the factory. It was noticed that the authorities during the course of personal inspection found that the assessee was maintaining the stock register for the subsequent year. The primary authority therefore concluded that the assessee has withheld the best evidence available with it from the knowledge of Assessing Officer. It was further held that even before the Appellate Tribunal, the assessee has not produced any material. The Appellate Tribunal dismissed the appeal. Hence, this appeal. 7. Learned counsel for the assessee submitted that the addition of a sum of Rs.25,88,026/- under the head of unproved cash purchases in the facts and circum ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
