NEW PLAZA RESTAURANT Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) THIS appeal was admitted on the following substantial questions of law:

(2.) THE brief facts giving rise to the present appeal are that the appellant (hereinafter referred to as the assessee) runs the business of a restaurant under the name and style of New Plaza Restaurant, Middle Bazaar, Shimla. For the assessment year 1993 -94, the assessee filed a return showing an income of Rs. 24,350. This return was filed on the basis of the books of account. The Assessing Officer on the basis of the material led before him rejected the books of account and on the basis of estimation enhanced the income by Rs. 3,74,387, vide his order dated January 10, 1996.

(3.) BOTH the parties aggrieved by the said order filed further appeals before the Appellate Tribunal. It would be pertinent to mention that the appeal filed by the assessee was dismissed in default. The appeal filed by the Revenue was heard and decided in favour of the Revenue and the Tribunal restored the order of the Assessing Officer.