THE ASST COMMISSIONER OF INCOME TAX vs. SRI K.C.K.A.GUPTA

The Appeal is dismissed

Bench: C.V.NAGARJUNA REDDY,T.AMARNATH GOUD

u/s. 263 of the I.T.Act ? 2. Whether on the facts and in the circumstances of the case, the Tribunal is correct in upholding the order of the assessing officer estimating the profit at certain percentage of unaccounted sales as against the entire undisclosed turnover which was unaccounted ?” The facts leading to filing of this Appeal are briefly set out hereunder

The Commissioner of Income Tax I vs. M/s. Bhagiradha Chemicals AND Industries Ltd.,

The appeal is disposed of

disallow the commission payment made to the said directors and the fresh assessment order u/s143(3) of I.T. Act may be passed accordingly.” (emphasis supplied) 7. On the second issue, the Commissioner of Income Tax referred to the total figure of expenses claimed against the manufacturing unit and the expenses booked against trading activities. In paragraph 5 the Commissioner accepted