2014 (3) TMI 1185

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.... D. Sudhakar Rao (DR) ORDER PER CHANDRA POOJARI, A.M: This appeal filed by the assessee is directed against the order dated 8/1/2014 of CIT (A)-II, Hyderabad pertaining to the assessment year 2009/10. 2. The assessee has raised the following effective grounds before us:- "2. The CIT (A) ought to have considered the fact that the appellant company is entangled in problems, whic....

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....uctions. The Assessing Officer found that the total turnover as per books of accounts was at Rs. 295,10,50,017/- as against total turnover reflected in form No.26AS generated from AST system of ITD application at Rs. 326,78,04,281/- and the difference works out at Rs. 14,77,77,984/-. The assessee was called for explain the difference. The assessee filed reconciliation statement which reads as foll....

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....r. Against the decision of the CIT (A), the assessee is in appeal before us. 5. The learned AR filed a statement showing the reconciliation of the turnover placed at page-48 of the paper book and submitted that the difference of Rs. 3,23,30,176/- and the income on this turnover will be estimated at 8% and not the gross turnover to be considered as income of the assessee. 6. On the other hand....

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....his turnover has not at all been booked in its books of accounts. The assessee's plea can be accepted only if the corresponding expenditure relating to this turnover is not at all booked by the assessee in its books of account. Since the assessee failed to substantiate that the expenditure relating to this turnover has not at all been claimed in its regular books of accounts, we are not inclined t....