TaxTMI 
TaxTMI 
2015 (8) TMI 1281
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....return of income of Rs. 3,01,620/-. The case was selected for scrutiny. The Assessing Officer issued detailed questionnaire on different dates. The assessee filed reply before Assessing Officer but assessee did not file any reply in response to questionnaire issued on 21.12.2011. Since the assessee did not file any requisite details before Assessing Officer, therefore, Assessing Officer did not left with any option except to complete the assessment on merits. The same is the position before ld. CIT(Appeals) because the assessee did not attend the appellate proceedings before ld. CIT(Appeals). The adjournments were sought and despite giving adjournment, nobody appeared on the date fixed for hearing before ld. CIT(Appeals) and even no written....
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....o 1.5% and granted above relief of Rs. 8,57,221/-. 5. The ld. counsel for the assessee submitted that in earlier years 2007-08 and 2008-09, assessee has declared GP rate of 0.10% and 0.0029% and in subsequent assessment year 2010-11, the GP rate was declared as 0.059%. He has, therefore, submitted that addition may be deleted. 6. On the other hand, ld. DR relied upon orders of the authorities below and submitted that since assessee did not produce sufficient material before the authorities below and no submissions have been made, therefore, appeal of the assessee may be dismissed. 7. On consideration of the rival submissions, we do not find any merit in the appeal of the assessee on this ground. The Assessing Officer found t....
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....ion of Rs. 34,95,000/- made under section 40A(3) of the Income Tax Act. Since these issues are identical, therefore, we decide the same together. The assessee had claimed various expenses like telephone expenses, traveling expenses, insurance, office expenses and freight and cartage in a sum of Rs. 4,71,177/-. Since the assessee did not furnish vouchers and complete details, therefore, Assessing Officer disallowed 20% out of these expenses and made addition of Rs. 94,235/-. The ld. CIT(Appeals) also noted that the element of personal use out of telephone expenses cannot be ruled out. Since the assessee did not file complete details, therefore, addition was confirmed. 8(i) As regards addition of Rs. 34,95,000/- under section 40A(3) of the....
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....amount is paid by assessee through RTGS issued by his banker which is also clear from the copy of account of this party (PB-69). The ld. DR, however, submitted that since these evidences were not filed before authorities below, therefore, these may not be taken into consideration. 10. We have heard rival submissions and material available on record. With regard to rejection of the books of account under section 145 of the Act and applying GP rate for estimating the profit in the case of the assessee, we have confirmed the orders of authorities below and dismissed ground No. 2 of appeal of the assessee. Therefore, it stands established that books of account of the assessee were not reliable and have been rejected and income is estimate....
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....hok Bansal. The Assessing Officer requested the assessee to furnish confirmation alongwith PAN of Shri Ashok Bansal and proof of his filing Income Tax Return. The Assessing Officer asked the assessee to furnish documentary evidence regarding source of credit in the hands of Shri Ashok Bansal and also to explain whether he is assessed to tax. The assessee did not furnish any evidence regarding source of the deposit of this amount. Therefore, Assessing Officer made addition under section 68 of the Income Tax Act. Since no submissions have been made before ld. CIT(Appeals), therefore, addition was confirmed and this ground of appeal of the assessee was dismissed. 13. We have heard ld. Representatives of both the parties. The ld. couns....