2014 (5) TMI 847

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... This appeal by the assessee is preferred against the order of the Ld. CIT(A)-30, Mumbai dt.30.1.2012 pertaining to assessment year 2008-09. 2. The sum and substance of the grievance of the assessee is that the Ld. CIT(A) erred in upholding the action of the AO in making addition of Rs. 35,68,565/- by estimating the gross profit @ 25% as against 10.85% shown by the assessee. 3. The assessee is ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s register was impounded and was handed over to the Office of the General Manager, Indian Security Press, Nashik Road, Nashik. Report from the Officer of the General Manager, Indian Security Press was received. The said report was incorporated by the AO at para-3 of the assessment order. 3.1. After considering the report, the AO concluded that the stamps which were affixed on the wages register a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... but without any success. 5. Aggrieved by this, the assessee is before us. The Ld. Counsel for the assessee drew our attention to the assessment order for A.Y. 2007-08 and pointed out that in the immediately preceding assessment year, the AO was not satisfied with the claim of wages and has made an adhoc addition of Rs. 1,00,000/- only. It is the say of the Ld. Counsel that similar view deserves ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....or in making furniture but is also an interior decorator. The gross profit margin of 10.85% shown by the assessee appears to be much lower in this line of the business added to this, the wages are not verifiable. At the same time, the AO has also not brought on record any comparable justifying his adoption of GP margin at 25%. Thus, this is a case where neither the assessee has justified his claim....