TaxTMI 
TaxTMI 
2025 (7) TMI 183
X X X X Extracts X X X X
X X X X Extracts X X X X
....has been passed against the assessment order u/s 143(3) of the Act, dated 27.12.2010. 2. The assessee is in appeal before the Tribunal raising the following grounds of appeal: "01. For that the learned Assessing Officer failed to issue notice under section 143(2)/142(1) as signature of the Assessing officer is not available on order sheet. 02. Certified copy of the order-sheet dated 24.09.2009 itself shows that signature of the Learned AO over order sheet is not available hence notices under section 143(2) and 142(1) was not even issued by the then AO within stipulated time by the Act for issuing notices i.e. 30.09.2009 Issuing notice within stipulated time is main ingredients compulsorily to be followed for getting jur....
X X X X Extracts X X X X
X X X X Extracts X X X X
....een made from undisclosed sources not recorded in the books of accounts. 10. For that the Learned Assessing Officer has erred in adding Rs 49811/-on account of Salary by alleging inflation of expenditure on salary 11. For that the Learned Assessing Officer has erred in adding Rs 400000/- on account of unexplained investment. 12. For that the learned Assessing Officer has erred in holding that the appellant has not offered explanation about the sources of investment. 13. For that the Learned Assessing Officer has erred in disallowing Rs, 241000/-U/s 40A(3) of the Income Tax Act. 14. For that the Learned Assessing Officer has failed to appreciate that the case of the appellant is covered by proviso....
X X X X Extracts X X X X
X X X X Extracts X X X X
....rief facts of the case are that the assessee is an individual engaged in trading of household electronic appliances and had filed the return of income for AY 2008-09 showing total income of Rs. 2,25,110/-. The case was selected for scrutiny. Notices u/s 143(2) and 142(1) of the Act were issued and duly served upon the assessee which were not complied with during the course of the assessment proceedings. A survey u/s 133A of the Act was conducted at the business premises of the assessee and books of account, bills and vouchers were impounded and examined. The Assessing Officer (hereinafter referred to as Ld. 'AO') perused all the records and made additions under various heads. The Ld. AO computed the total income of the assessee at R....
X X X X Extracts X X X X
X X X X Extracts X X X X
....on, the net profit comes to 24.71% as against 2.46% disclosed by the assessee and the impounded documents marked SP-42 were stated to be rough book. The Ld. DR vehemently argued that the order of the Ld. CIT(A) may be upheld and no further relief was allowable to the assessee. 6. We have considered the submissions made. Since incriminating evidence was found containing details of suppressed purchases, suppressed sales and unaccounted payments, most of which related to the business, therefore, there was justification for estimating the income of the assessee and making the addition. However, since the books of account were rejected as is mentioned on page 2 of the assessment order, the Ld. AO should have estimated the profit. The Bench wa....