[2025:RJ-JP:31751-DB] HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH AT JAIPUR D.B. Income Tax Appeal No. 118/2024 1. Principal Commissioner Of Income Tax, Jaipur-Ii, At New Central Revenue Building, Statue Circle, Jaipur (Raj.)- 302005 2. Pcit 2, New Central Revenue Building Statue Circle Jaipur ----Appellants Versus Shri Gotam Agarwal, 228, City Centre S.c. Road, Jaipur. ----Respondent For Appellant(s) : Mr. Sandeep Pathak For Respondent(s) : HON'BLE MR. JUSTICE SANJEEV PRAKASH SHARMA HON'BLE MR. JUSTICE SANJEET PUROHIT Order 14/08/2025 1. Learned counsel for the Revenue has vehemently argued this appeal alleging that the CIT Appeals as well as the concurring judgments passed by the ITAT deserve to be ignored and has attempted to raise questions of law as mentioned in the appeal which are as under: “1) Whether on the facts and in the circumstances of the case and in law, Ld. ITAT is justified in ignoring the fact that books of accounts were rejected by considering them as non-reliable, fabricated, manipulated and made to serve the sole purpose of explaining undisclosed income since the entire cash sale to the tuneof Rs.2,58,56,715/- was credited in the books of accounts were held to be unexplained cash credit and addition under section 68 of the Act of 196 made by the AO? 2) Whether on the facts and in the circumstances of the case and in law, Ld. ITAT is justified in ignoring the fact that the Assesse suppressed interest income by formulating colorable device by claiming abnormal and inflated expenses thereby generated business loss which [2025:RJ-JP:31751-DB] (2 of 2) [ITA-118/2024] was set off from interest income and thereby deleting the addition of Rs.25,00,578/- made by the AO?” 2. We have carefully gone through the order passed by the CIT, whereby it reached to findings of facts that the concerned assessee had made genuine purchase and sales and non- maintenance of stock register cannot be a reason for rejection of the books of accounts. The CIT also found that the books of accounts have been duly audited under Section 44A of the Income Tax Act, 1961 (for short ‘the Act of 1961’). 3. Taking note of the factual findings, the ITAT too reached to the similar conclusion after examining the record and concurred with the findings of fact arrived at by the CIT Appeal. 4. The present appeal filed under Section 263 of the Act of 1961 does not raise any question of law much less of public importance. In view thereto, we do not find any reason to entertain this appeal and the same is accordingly, dismissed. (SANJEET PUROHIT),J (SANJEEV PRAKASH SHARMA),J MAHIMA/RAHUL/12