D.b. Income Tax Appeal v. M/S. B.t. Suitings (P) Ltd

D.B. INCOME TAX APPEAL NO.70/2006(CIT, Ajmer Vs. M/s. B.T. Suitings (P) Ltd.) Date of order : 14.8.2006 HON'BLE MR. JUSTICE RAJESH BALIAHON'BLE MR. JUSTICE GOPAL KRISHAN VYAS Mr. K.K. Bissa, for the appellant. Having heard learned counsel for theappellant, we are satisfied that no question of lawmuch less substantial question of law arises forconsideration in this appeal under Section 260-A ofthe Income Tax Act. The facts of the case are that assesses'sbooks of accounts were rejected on the ground that inthe current year of accounts, the assessee has shownlower GP rate. The assessing officer applied GP rateof 10% and made additions of Rs.7,30,830/-. The assessing officer has not found anymaterial defects in the books of accounts of assesseeand particularly the sale receipts have not been foundto be erroneous and accepted by the assessing officer.Considering these facts, the CIT (A) reduced theaddition to Rs.30,830/- while resorting to bestjudgment assessment. On further appeal by the revenue before the arun Income Tax Appellate Tribunal, the order of CIT (A)was upheld. Making of estimation of income on availablematerial is primarily a matter of inherent guess workand is a question of fact. We are of the opinion that the Tribunal hasrightly dismissed the appeal of the revenue. Noquestion of law has arisen for consideration in thisappeal. The appeal is dismissed in limine. (GOPAL KRISHAN VYAS), J. (RAJESH BALIA), J.