BEENA METALS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal referred the following questions relating to the assessment year 1987-88 under Section 256(1) of the Income-tax Act, 1961 for the opinion of this court :

(2.) THE facts, as gleaned from the penalty order, are thus :

(3.) FROM the foregoing facts, it is amply clear that the assessee failed to furnish the particulars of brokers through whom the purchases were claimed to have been made. The assessee. also failed to produce the purchase and sale registers and the stock register.