SURAJMAL AND PARTY Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) IN this appeal the following questions are raised which are stated to be the questions of law : 1. "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in confirming the disallowance of loss of Rs. 4,27,887 in IMFL and Beer account as made by the AO, irrespective of the fact that books of account and trading results shown by the appellant were accepted and no defects were pointed out by the AO in the books of account shown by the appellant ?"

(2.) "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in confirming the disallowance of loss of Rs. 4,27,887 as made by the AO on the basis of comparable case and on the basis of estimation, presumption and assumption irrespective of the fact that trading results shown by the appellant were not disbelieved ?"