2014 (1) TMI 124

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....- made on account of estimation of income @ 10% of total sale consideration ignoring the fact that assessee failed to produce the details of expenses claimed." "On the facts and in the circumstances of the case and in law, the Learned CIT(A) has erred in law by deleting the addition of Rs.19,67,000/- made u/s. 40(a)(ia) of the Income tax Act, 1961 in respect of expenses of brokerage and legal and professional fees on which no TDS was made, ignoring the facts that assessee failed to produce any proof of TDS made." "On the facts and in the circumstances of the case and in law, the Learned CIT(A) has erred in law by deleting the addition of Rs.7,67,249/- made in respect of property tax paid, ignoring the facts that these expenses were co....

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....13.11.09 was ever served by the AO upon the assessee. He further observed that the AO estimated the 10% profit on the sale consideration without any valid basis. He further observed that the AO had not indicated in the assessment order anything, as to why, the books of account of the assessee were not reliable or that there was any defect in the books of accounts, which were well audited and the audit report was submitted along with the return of income. The onus was on the AO to prove that the assessee had earned more income than that was shown in the books of accounts. Relying upon various case laws of the Hon'ble High Courts and Hon'ble Supreme Court, he deleted the additions so made by the AO. 5. The ld. D.R. before us could not poin....

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....TDS was deductable on the amount paid as professional fees. He therefore deleted the additions so made by the AO. We do not find any infirmity in the order of the ld. CIT(A) in this respect also. 7. The next issue is relating to the deletion of the addition of Rs.7,67,249/- which was made by the AO in respect of property tax paid, observing that the said expenses were covered under section 43B(a) of the Income Tax Act. The AO in the assessment order observed that the appellant had paid the property tax but no proof regarding the same was submitted. He therefore disallowed the amount paid as property tax and added back the same to the income of the assessee. In first appeal, the ld. CIT(A) observed that the AO had wrongly disallowed....