Per T.A. Bukte, Judicial Member - This is an appellant's appeal against the order of the CIT(A)-V, Bombay dated 26-9-1988 on several grounds and sub-grounds running into five pages. All the grounds and the sub-grounds of appeal relate to the only one point of claim of deduction of purchase of textile goods in the month of March 1985 alone from twelve parties residing in Bhiwandi. The Assessing Officer disallowed the said claim by giving several reasons and the CIT(A) V, Bombay has confirmed the disallowance made by the Assessing Officer. Therefore, the appellant has preferred this appeal against that order of the, CIT(A) V, Bombay.

2. We have heard the learned counsels for the assessee S/Shri S.E. Dastur and PA. Pardiwala and the learned Departmental Representatives, Shri Y.S. Rawat and Shri N.C. Nair. Their arguments are taken into consideration.

3. The appellant is carrying on business in textile. The appellant-company filed the return of income for the assessment year 1985-86 showing an income of Rs. 2 `824. The return of income was accepted under section 143(1) of the Income-tax Act. 1961. Subsequently. the Assessing Officer issued a notice under section 1430(b) of the Act w