Law:

Section:

Section 143, read with section 260A, of the Income-tax Act, 1961 - Assessment - Additions to income - Assessment years 1994-95 and 1995-96 - Upon a survey enquiry, it was found that certain cash credits and bank deposits were made in the books of account of assessee, which he had failed to explain - It was also found that some purchases were not recorded in books of account and similarly some payments made to suppliers were not recorded in books of account - Assessee offered an explanation that he had come from agricultural background and was new to business and had employed a part-time accountant to maintain books of account mainly for sales tax purposes - It was further explained that as accountant was not properly trained, he had not maintained books of account correctly - Notwithstanding aforesaid explanation, Assessing Officer made various additions to income of assessee - Commissioner (Appeals) upheld said addition - Tribunal reduced additions but otherwise confirmed findings - Whether concurrent finding of fact recorded by authorities concerned did not reflect or show any substantial question of law - Held, yes - Whether, therefore, appeals were devoid of any merit or substance - Held, yes K.N. Puntambekar for the Appellant. JUDGMENT 1. Heard Shri K.N. Puntambekar, learned counsel for the appellant, on the question of admission, as both the appeals arise out of the common order passed by the Income-tax Appellate Tribunal, Indore Bench, in two cross appeals preferred by the assessee and the Revenue. Both were heard and disposed of by this common order. 2. Both the appeals are under section 260A of the Income-tax Act, 1961, which requires that the appeal in the High Court can be admitted for hearing only when the Court is satisfied that the case involves a substantial question of law, then the question of its admission does not arise. However, the facts giving rise to filing of the present appeals are mentioned hereinbelow: In both the appeals, the matter pertains to the assessment years 1994-95 and 1995-96. A survey was conducted on the shop of the appellant-assessee on November 9, 1995. Later on, a notice under section 148 of the Act was issued to the…

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