Supreme Court · 2006 INSC 1016 · Decided 14 December 2006
M/S. Kachwala Gems, Jaipur v. Joint Commissioner of Income Tax, Jaipur
- Court
- Supreme Court of India
- Citation
- 2006 INSC 1016 · [2006] SUPP. 10 S.C.R. 992
- Case number
- CIVIL APPEAL No. 5809/2006
- Decided
- 14 December 2006
- Bench
- S.B. SINHA, MARKANDEY KATJU (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 144
Headnote
Income Tax Act, 1961: C . s. I 44-Best judgment assessment-Books of accounts of assessee rejected as being defective-Tax authorities recording finding of bogus purchases­ Held, such finding cannot be interfered with in instant appeal-Cogent reasons given for rejection of books of accounts-In but there is no arbitrariness on part of income tax authorities warranting interference. D Books of accounts of the appellant-assessee were found defective and the purchases shown were held to be bogus by the Assessing Officer. He assessed assessee's gross profit u/s 144 of Income Tax Act at
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