2025 (1) TMI 654

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....M: The appeal is filed by the assessee against the order of ADDL/JCIT(A) passed u/sec 143(3) and u/sec 250 of the Act. The assessee has raised the grounds of appeal challenging the order of the CIT(A) sustaining the addition made by the Assessing Officer. 2. The brief facts of the case are that, the assessee is a partnership firm and is engaged in the business as dealer in petroleum products. Th....

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.... motor spirit has not entered the details of petrol & diesel to the extent of 15000 Litres and the assessee was called to reconcile/explain the difference, Since the information was not substantiated, the A.O has made addition of suppression of sales valued at Rs. 8,85,326/- and finally assessed the total income of Rs. 11,90,778/- and passed the order u/sec 143(3) of the Act dated 6.12.2016. 3. A....

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....ntered by the assessee are disallowed by the revenue authorities without proper inquires though the assessee has substantiated with material evidences/information of rectification of entries of stock in puts before the lower authorities and the Ld.AR supported the submissions with the paper book and prayed for allowing the appeal. Per Contra, the Ld. DR supported the order of the CIT(A). 5. We he....

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....he gross profit margin/element in the motor spirit I.e Diesel & Petrol business range between 2% to 3% and both the revenue authorities has over looked the factual aspects of the purchase transactions substantiated with material evidences filed in compliance to the notices. The Ld.AR highlighted the clauses of Tax Audit report in Form. no 3CD in particular clause 35(a) and 40. We considering the f....