CIT Vs. MODI ENTERPRISES

JUDGEMENT

(1.) This is an application under Section 256(2) of the Income Tax Act, 1961. The Tribunal has refused to state the case and refer the following issue claimed by the applicant to be question of law arising out of the appellate order of Tribunal, Jaipur Bench, Jaipur 28-2-1995 by rejecting the application moved before it under Section 256(1) of the Act of 1961:

(2.) Whether the defects in system of accounting as found by the assessing officer and accepted by the Tribunal do not legally justify the application of provisions of Section 145 of the Income Tax Act

(3.) Whether the Tribunal is right in brushing aside the findings of the learned Commissioner (Appeals) pointing out specific defects in accounts, only on the ground of absurdity of application of net profit rate