Db Income Tax Appeal v. M/S Vijay Solvex Ltd., Bhagwati Sadan, S.d. Marg, Alwar

IN THE HIGH COURT OF JUDICATURE FOR RAJASTHAN AT JAIPUR BENCH JAIPUR DB Income Tax Appeal No.3/2006The Commissioner of Income Tax, Alwar. vs. M/s Vijay Solvex Ltd., Bhagwati Sadan, S.D. Marg, Alwar. Date of Order : 15.11.2016 HON'BLE MR. JUSTICE K.S. JHAVERIHON'BLE MR. JUSTICE MAHENDRA MAHESHWARI Mrs. Parinitoo Jain for the appellant.Mr. Sanjay Jhanwar for the respondent. 1.By way of this appeal the department hasassailed the judgment & order of the Tribunalwhereby the Tribunal has dismissed the appealpreferred by the department and the appeal of theassessee is allowed in part. 2.This Court while admitting the matter framed the following questions which reads as under: “i) Whether the findings of theTribunal are perverse in deletingthe addition of Rs. 6,43,330/- onaccount of dryuing loss when thebooks of accounts were rejected u/s145? ii) Whether the findings of theTribunal are perverse in deletingthe addition of Rs. 52,53,607/- madeby the A.O. on account of non-acceptance of trading results?” 3.The Tribunal has relied upon the previousdecision which was challenged by the assessee byTax Appeal No. 134/2004 which is dismissed. Inview of the decision of this Court which has beenfollowed by the Tribunal, in our view, the same isrequired to be accepted. 4. Hence the issue is answered in favour of theassessee against the department. 5. The appeal is dismissed. (MAHENDRA MAHESHWARI),J. (K.S.JHAVERI),J.