ASHOK KUMAR,J. - (1.) This is an Income Tax Appeal filed under section 260(A) of the Income Tax Act, 1961 (in short 'the Act') for the assessment year 2006-07 by which the appellant assessee has challenged the order passed by the Income Tax Appellate Tribunal, Agra Bench, Agra in I.T.A. No. 395/Agra/2011 dated 15.2.2013.
(2.) The brief facts of the case are that the appellant is an individual by status and was carrying on the business of trading in foot-wear in a proprietary set up in the name and style of 'Binny Trading Company'. The 'Return' for the assessment year 2006-07 has been filed by the appellant on 31.7.2006 under Section 139(1) of the Act by which the appellant has disclosed an income of Rs. 1,24,198/-.
(3.) In pursuance of the information which has been received by the Assessing Officer of the appellant from the Additional Director of Income Tax (investigation), Agra that during the course of survey in the case of 'Bajwa Rubber Industries, Agra' the investigating agency had found that the purchases made from M/s Binny Trading Company, the proprietary set up of the present appellant had not recorded by the firm namely M/s Bajwa Rubber Industries in its purchase account.;