- (1.) THE assessee has approached this Court by filing the present appeal against the order of Income -tax Appellate Tribunal, Chandigarh Bench 'B' (for short, "the Tribunal") arising out of ITA No. 6494/Chd/1996 for the asst. yr. 1992 -93, decided "(A) Whether, on the facts and in the circumstances of the case, the Tribunal was justified on facts and in law in confirming the action of CIT(A) and in sustaining the addition of an illogical and unreasonable income of Rs. 1,28,960 without passing a speaking order and without considering various arguments, contentions and evidences produced before the Tribunal and thus the order of the Tribunal is bad in law and illegal. (B) Whether, on the facts and circumstances of the case, the findings of Tribunal are perverse and against the arguments, contentions and evidences on record thus unsustainable in law."
(2.) WHILE rejecting the contentions raised by the assessee, the Tribunal, while upholding the orders passed by the authorities below, recorded the following findings : "We have heard the rival submissions, perused the orders of the tax authorities and gone through the material available on record as well as the paper book filed by the assessee. In this case the difference in stock was found by the search correct rates. Apart from this, it has also been noticed that no discrepancy in this regard was ever pointed out after 17th the plea of the assessee that such rates were not confronted or excessive was without any merit. In our considered opinion, the CIT(A) has rightly sustained the impugned addition by passing a well -reasoned and speaking order, which does not call for any interference at our hands. We uphold the same and reject the ground raised by the assessee."
(3.) LEARNED counsel for the assessee, the following order was passed : "After some hearing, Mr. Mukhi, learned counsel for the appellant prays for some time to place on record the material which, according to the appellant, has not been taken into consideration by the Tribunal. The assessee has not placed on record any material which according to him, has not been taken into consideration by the Tribunal.;