Addition for sale outside books of Accounts without rejecting of books of account not sustainable

We have heard Sri Manu Ghildyal, learned counsel for the appellant and Sri Ashish Bansal who has put in appearance on behalf of the respondents.

The appeal was admitted on the following two questions of law:

“1. Whether on the facts and in the circumstances of the case, the Tribunal is justified in law in deleting the additions of Rs. 30,73,542/- made on account of sale of rice out of books of Rs. 28,76,125/- for investment in stock out of undisclosed sources?Please become a Premium member. If you are already a Premium member, login here to access the full content.