2019 (11) TMI 693

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....ions made and the evidence already available on AO's own record and further evidences adduced by the assessee the orders of the learned Lower Authorities are against the law and facts of the case. 2. That the ld. Assessing Officer has erred in making addition in the amount of Rs. 42,584/- of alleged difference in the transactions in the copies of accounts collected by the ld. Assessing Officer directly from suppliers while brushing aside the detailed explanation and reconciliation of the transaction, furnished by the assessee and the learned CIT (Appeals), Kota also erred in confirming the same. 3. That the ld. Assessing Officer further erred in disallowing 25% of Purchases debited under the head "Coal and Fuel Expenses" i....

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....ferences in the closing balance as filed before the AO and further submitted that once the assessee has not claimed any excess amount on account of purchases, then a more balance shown by the assessee's supplier in its books of account will not be a ground for making any addition. As regards the adhoc disallowance on account of Coal and Fuel expenses, he has contended that the AO after rejecting the books of account made this adhoc disallowance which is otherwise not permissible. Even otherwise the disallowance was made on the basis of statement recorded at the back of the assessee without giving opportunity of cross examination. The ld. D/R has submitted that the assessee has failed to reconcile the differences and, therefore, to the exten....

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....or the assessee has pointed out that the AO has not pointed out any decline in the GP rate of the assessee for the year under consideration but the income declared by the assessee shows a better GP and NP rate in comparison to the preceding years. He has referred to the comparative chart of the preceding years as well as for the year under consideration showing the GP declared by the assessee. Thus having regard to the fact that the AO has rejected the books of account and the GP declared by the assessee for the year under consideration is 17.88% in comparison to the average of 3 years at 17.76%, the rejection of books of account under section 145(3) would not ipso facto lead to an addition if the assessee has declared the results either be....