2014 (1) TMI 545

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.... para 2 of the Assessment Order all these challans were duly considered and credit of these challans was not allowed, as there was no mention on the challans as to which period those challans pertained. These challans may pertain to the current period. The Assessee was asked to furnish documentary evidence in this regard but the Assessee failed to discharge its. onus. Hence the addition was rightly made and Ld. CIT (A) has wrongly deleted the same. As regards deletion of addition of Rs.18,33,262/- on account of GP. In para 4 of the Assessment Order, the reason for addition on the ground of lower G.P. Rate in the year under consideration has elaborated in detail. The Ld. CIT (A) has erred in deleting the addition of Rs.18,33,262/- on accoun....

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....00/- 4. 5.9.2008 1,00,000/ - 5. 5.9.2008 1,00,000/- 6. 18.12.2008 3,00,000/- 7. 3.1.2009 2,00,000/- 8. 7.1.2009 2,00,000/- 9. 10.2.2009 1,25,000/- 10. 30.3.2009 3,00,000/- 11. 30.3.2009 3,00,000/- 12. 31.3.2009 5,00,000/- 13. 31.3.2009 1,00,000/- 14. 31.3.2009 2,45,518/ - 15. 24.7.2009 69,711/- From the above AO concluded that the payments made after the due date of filing return i.e. 30.9.2008 are not allowable u/s 43B of the IT Act. As regards the payments at Sr. No.1 to 5, the AO observed that it is not clear from the photo copies of the receipts as to which period these payments pertain to as the relevant column of "tax period" is blank. Since the appellant failed to furnish any other documentary evi....

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....w and assessee has failed to explain the same with reasonable cause. Therefore, the order of CIT (A) is perverse and deserves to be set aside. On the other hand, the learned AR relied on the order of the CIT (A) and also pleaded that the Assessing Officer has made the addition from other expenses also. Therefore, there is no need to make such additions. He pleaded to sustain the order of CIT (A). 8. We have heard both the sides on this issue. After hearing, we find that the Assessing Officer has rejected the books of account and estimated the gross profit @ 9.12% as against the declared G.P. of 4.063% for the year. The gross profit rate for the year immediate preceding year was 9.118% in comparison to the current year gross profit rate at ....