2015 (7) TMI 900

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.... New Delhi on the following grounds of appeal: 1. The CIT(A) erred in law and on the facts and circumstances of the case in restricting the addition from Rs. 12,79,350/- (Rs. 11,53,350/- + Rs. 1,26,000/- to Rs. 2,96,078/- by computing income from 4 (four) vehicles under section 44AE(7) without cogent reasons and without giving findings that the assessee had only declared his total income of Rs. 1,27,792/- out of gross business receipts of Rs. 7,20,500/- from the business of dairy production in the name and style of M/s Aggarwal Dairy in violation of provisions of Rule 46A(3) of the Income Tax Rules, 1962. 2. The appellant craves leave to amend or alter all or any of the aforesaid grounds of appeal and amend, alter or add any other gro....

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....) elaborately discussed the issues in his order and accordingly, restricted the addition from Rs. 12,79,350/- (Rs. 11,53,350/- + Rs. 1,26,000/-) to Rs. 2,96,078/- by partly allowing the assessee's appeal vide order dated 11.3.2011. 5. Against the above order the Revenue is in appeal before us. 6. The case came up for hearing on 06.1.2015 for which Registered Notice was sent to the assessee, but nobody appeared on behalf of the assessee nor any application for adjournment filed by the assessee. Keeping in view of the facts and circumstances of the present case, we are of the view that no useful purpose will be served to issue notice again and again to the assessee and therefore, we are deciding the appeal exparte qua assessee, after he....

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....ee was asked to explain the deposits in the bank account with South Indian Bank, he had made no disclosure in his income tax returns of the second business of running of vehicles on hire. Moreover, from the details filed by him during the appellate proceedings, it was seen that the assessee had purchased two vehicles in the FY 2005-06, relevant to AY 2006-07, and had failed to disclose the income in that year too. The vehicles purchased amounting to Rs. 1,42,078/- by the assessee during the previous year under consideration. We find ld. CIT(A) further observed that as per the provisions of Section 44AE, the income from plying, hiring or leasing of vehicles, other than heavy goods vehicles, is deemed to be Rs. 3500/- for every month or part ....