COMMISSIONER OF INCOME TAX Vs. GUPTA BROTHERS

JUDGEMENT

(1.) THIS is an appeal by the Revenue under Section 260A of the Income -tax Act, 1961 (for short 'the Act'). The challenge is to the order, dated May 31, 2002, passed by the Income -tax Appellate Tribunal, Delhi Bench 'E', New Delhi (for short 'the Tribunal'), in I.T.A. No. 4524/Delhi of 1997, pertaining to the assessment year 1993 -94. According to the Revenue, the said order involves the following substantial questions of law :

(2.) THE factual background is as follows :

(3.) BEING aggrieved by the order of the Commissioner, the Revenue carried the matter in further appeal to the Tribunal. Endorsing the view taken by the Commissioner that the sales shown on the slip dated April 22, 1993, could not form the basis for estimation of sales during the assessment year 1993 -94, because it related to the subsequent year, the Tribunal also took the view that since the Assessing Officer had made a separate addition for the sales recorded in the seized material, the books of account of the assessed could not be rejected on the basis of the slip. Thus, the Tribunal came to the conclusion that the estimation of the sales and the gross profit rate by the Assessing Officer for the relevant assessment year was not supported by any document seized during the course of the search. Hence, the present appeal.