2000 (1) TMI 765

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....nst the order of CIT(A), Gwalior. 2. The first ground of appeal is of general nature and needs no comments. 3. Ground Nos. 2 and 3 of the appeal are against the trading addition of Rs. 20,110. 4. I have heard both the parties and have perused the material placed before me. The Assessing Officer has found several defects in the books of account. Therefore, in my opinion, rejection of books of ac....

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....on 17-11-1992; (c)Rs. 15,552 out of marriage gifts. The Assessing Officer accepted only Rs. 12,000 and made the addition of Rs. 60,000. He stated that the Assessing Officer did not accept the withdrawal of Rs. 45,000 on 17-11-1992 on the ground that the marriage took place on 4-5-1992. He pointed out that the assessee is a trader at Sagar, where marriage took place. Since the assessee knew the o....

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....improbable. However, in my opinion, it would be fair and reasonable to accept assessee's contention to the extent of 1/3rd out of the withdrawal of Rs. 45,000. No reason has been given for not accepting the marriage gifts. Giving of some gift at the time of marriages is conventional in our country. The claim of receipt of gifts at Rs. 15,000 looks reasonable. In view of the above, I reduce the add....