TaxTMI 
TaxTMI 
1990 (4) TMI 106
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....Rs. 41,663 made by the ITO. 2. The assessee is an individual and the asst. yr. involved is 1984-85. During the year she was having one truck RJB 5565 which she purchased on 12th Feb., 1982 for Rs. 1,50,000. It was a 1979 model TATA-TMB make. The assessee disclosed receipts from plying of this truck at Rs. 2,35,180 upon which she declared a net profit of Rs. 5,373 only. That gave a net profit ra....
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....t acceptable. He, therefore, made an addition of Rs. 41,663 to the returned profits from plying the trucks which brought the net profit at 20 per cent. The assessee appealed to the learned CIT (A) but was unsuccessful. Hence this appeal. 3. Mr. Ranka, the learned counsel for the assessee, vehemently urged that the learned CIT (A) has not correctly appreciated the evidence available on the recor....
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....ould have observed judicial restraint in making his observations with regard to the case of the assessee with regard to the results in earlier years. On the other hand, the learned Deptl. Representative supported the order under appeal. 4. After having gone through the original as wells other records produced before us, we feel inclined to agree with the CIT (A) on the issue on hand. The detail....
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....163 upon which reliance was placed on behalf of the assessee are quite distinguishable. In that case the assessee had maintained truck-wise and trip-wise receipts and expenditure registers which could serve the purpose of log book. The increase in certain expenditure which caused the low gross profit rate was also properly explained by the assessee. It was on these facts that the rejection of the ....