UPLAKSH METAL INDUSTRIES Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE assessee has preferred this appeal under s. 260A of the IT Act, 1961 (for short "the Act"), against the order of the following substantial questions of law :

(2.) SUBSEQUENTLY , the assessee has filed the amended substantial questions of law which read as under :

(3.) DURING the assessment, the AO found from the balance sheet that there was entry of trade creditors. The assessee was required to give intimation with regard to the said entry with a view to ascertain the identity of the creditors and genuineness of the entry. Finally, the AO did not accept the genuineness of the entry and made additions to the extent of trade credits. The said view was reversed by the CIT(A), but the Tribunal restored the order of the AO, vide order dt. application for rectification was in the nature of review, which was not permissible.