M/S Asa Singh Cotton Factory, Kotkapura Through Itspartner v. The Commissioner Of Income Tax, Jalandhar Andanother

379 IN THE HIGH COURT OF PUNJAB AND HARYANA.AT CHANDIGARH ITA-20-2000 (O&M)Date of decision : 10.01.2020 M/S ASA SINGH COTTON FACTORY, KOTKAPURA THROUGH ITSPARTNER .... APPELLANT VERSUS THE COMMISSIONER OF INCOME TAX, JALANDHAR ANDANOTHER. eee RESPONDENTS CORAM: HON'BLE MR.JUSTICE AJAY TEWARIHON'BLE MR. JUSTICE AVNEESH JHINGAN 3333 Present :-Mr. Alok Mittal, Advocatefor the appellant, Mr. Vivek Sethi,Senior Panel Counsel withMr. Varun Issar, Junior Panel Counselfor the respondents.3333 AJAY TEWARIL, J. Oral) inThis appeal has been filed under Section 260-A of the Income TaxAct, 1961 (for short 'the Act’) against order of Income Tax Appellate Tribunal inITA No. 627 (ASR) of 1994 relating to assessment year 1992-93 upholding thedecision of the Appellate Authority whereby the appeal of the appellant had beenpartly accepted and against its claim of the yield 30.47% vis-a- vis the 30.80%assessed by the assessing Officer (the yield fixed by Cotton Corporation of India)reasonable percentage was taken as 30.67%. 2 In our considered opinion, the issue was purely factual. The only argument raised by learned counsel for the appellant is that the purchase registerand the sale register have not been doubted. 3Learned counsel for the appellant, however, does not dispute thatrecord was also maintained on estimation basis. Moreover, there is no denial ofthe fact that no stock register was maintained. The Appellate Authorityconsidered the evidence in entirety, as also the comparables relied upon and areasonable approach was adopted in the absence of reliable documents. 4In the circumstances, we are not in position to hold that the factualappreciation by the Appellate Authority which, mentioned above, had partlyallowed the appeal of the appellant calls for any interference. 5 Dismissed. (AJAY TEWARI )JUDGE 10[th]January, 2020shabha (AVNEESH JHINGAN)JUDGE) Whether speaking/reasonedVes/NoWhether ReportableVes/No