TaxTMI 
TaxTMI 
2012 (12) TMI 1023
X X X X Extracts X X X X
X X X X Extracts X X X X
....espondent: Shri A. Sundararajan, Jt.CIT (DR) O R D E R Per Smt. P. Madhavi Devi, Judicial Member This appeal by the assessee for the assessment year 2007-08 is directed against the order of the CIT(Appeals), Mysore dated 29.11.2011. 2. In this appeal, the assessee has raised as many as 8 grounds of appeal, but the only grievance is against the order of the CIT(Appeals) in confirming the additi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....he assessee. He also found that sales to the extent of Q 1,69,28,140 was also not accounted in the regular books of accounts produced by the assessee. The assessee's explanation regarding these discrepancies was called for. The assessee filed his submissions on 31.12.2009 explaining the nature of his business and the discrepancies in the books of accounts is only due to wrong entries made by his....
X X X X Extracts X X X X
X X X X Extracts X X X X
....efore made the addition of the difference between the sales and purchases of Q 25,64,032 as suppressed profit and brought it to tax. 4. Aggrieved, the assessee preferred an appeal before the CIT(Appeals) reiterating the submissions made by it before the AO. He also filed a recast statement of accounts wherein the profit was worked out at Q 11,01,256 as against the income of Q 1,31,940 as per the ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....l for the assessee, Mr. K.Y. Ningoji Rao, while reiterating the submissions made by the assessee before the authorities below, tried to convince the Bench that the recast statement of accounts furnished by the assessee is the correct state of affairs and the CIT(Appeals) ought to have accepted the same. 6. The ld. DR, on the other hand, supported the orders of authorities below. 7. Having heard....