2000 (4) TMI 162

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...., 1993, whereby he sustained the trading addition of Rs. 26,363 disallowance of Rs. 15,498 out of motor vehicle expenses and depreciation and Rs. 5,000 out of telephone expenses. 2. We have heard the arguments of both the sides and also perused the records. 3. Ground No. 1 has not been passed by the learned authorized representative during arguments, and so the same is dismissed accordingly.....

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....ntended that no specific defects/mistakes have been pointed out by AO in assessee's accounting system or in account books. He has contended that mere absence of stock register cannot justify rejection of accounts or books. He has cited Soni & Co. vs. Asstt. CIT (2000) Direct Taxes Courier Vol. 14, p. 122 and Vinod Kumar Pramod Kumar vs. ITO (2000) 66 TTJ (Jd) 722, in his support. As against this t....

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....t. In the case of Soni & Co. vs. Asstt. CIT it has been held by Jodhpur Bench of Tribunal that mere absence of day-to-day stock records or meagre fall in GP rate cannot by themselves justify rejection of the book results and the AO cannot invoke the proviso to s. 145(1) or 145(2) on that basis alone. As such considering all the facts and circumstances of the case and respectfully following the abo....