2018 (5) TMI 1151

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....xpenditure amounting to Rs. 8,53,176/- for the assessment year 2007-08, Rs. 31,25,558/- for the assessment year 2008-09, Rs. 80,42,406/- for the assessment year 2009-2010 and Rs. 25,01,682/- for the assessment year 2010-2011 is bad in law as the expenditure was entirely incurred towards transportation charges of the business of the assessee firm and the relevant bills and documents were available with the assessee firm. 3. The brief facts of the case are that the Assessing Officer observed that the assessee has debited Rs. 85,31,760/- for the assessment year 2007-08, Rs. 3,12,55,579/- for the assessment year 2008-09, Rs. 8,04,24,058/- for the assessment year 2009-2010 and Rs. 2,50,16,821/- for the assessment year 2010-2011 towards transp....

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....antitative details available from transportation bills differ from quantitative details of purchases given in the audit report. Deduction of tax at source on payment of transportation charges though claimed TDS statements were not furnished. Percentage of profit is at lower side of the turnover i.e. 1.85% for the assessment year 2007-08, 1.55% for the assessment year 2009-10 and 2.60% for the assessment year 2010-2011 whereas, it has shown net profit at 4.65% of the turnover in A.Y.2008-09. In the given facts and circumstances of the case, the CIT(A) held that the correctness of the transportation charges debited to the P &. L A/c. could not be fully verified from the documents adduced by the Ld. A.R. and hence, confirmed the disallowance o....

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....and materials available on record. The appeals under consideration are in pursuance to assessments made u/s.153C of the Act in pursuance to a search conducted u/s.132 of the Act on 11.4.2012. For the assessment years under appeal, the original returns of income filed by the assessee in respective assessment years are tabulated as under: Asst. Year Date of filing of Return u/s 139 returned income Due dt. Of notice u/s.143(2) 2007-2008 1.11.2007 Rs.4,75,840/- 30.9.2008 2008-2009 5.11.2008 Rs.20,98,558/- 30.9.2009 2009-2010 30.9.2009 Nil 30.9.2010 2010-2011 15.10.2010 Rs.27,42,080/- 3....