2011 (2) TMI 35

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.... permit to condone the delay and admit the appeal for hearing. 3. The assessee has taken the following effective grounds:- "1. In the facts and circumstances of the case and in law, the learned Commissioner of Income Tax (A) erred in estimating receipts from polishing charges at Rs.1,26,000/-without any basis and comparable case. 2. In the facts and circumstances of the case and in law the learned Commissioner of Income Tax (A) also erred in overlooking section 44AA which allows small people not to maintain books as required by the A.O. 4. The facts relevant to decide the issue are as under. The assessee is an individual who does the job work of the Gold Smith and derives the income by way of a labour charges. The assessee decla....

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....nbsp; 100-250 per day. It is an admitted fact that the appellant has also declared its income from labour charges for polishing on estimated basis only, though claimed having maintained a diary for cash receipts but this was never claimed before the AO. Neither the alleged diary of cash receipts is produced before the A.O. nor during the appellate proceedings. The income declared by the appellant is, thus, purely on estimated basis. Therefore, there is no scope of any verification regarding the correctness of income declared by the appellant. Under such circumstances, certain addition for want of proper verification is justified. However, the addition on estimating the receipts at an average of Rs. 450/- per day against the claim of the app....