2025 (11) TMI 218

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....3A) & 143(3B) of the Income tax Act, 1961 [the Act] dated 8.4.2021 by the National e-assessment Centre, Delhi was dismissed. 2. The assessee is in appeal before us raising the following grounds:- "1. The orders of the authorities below in so far as they are against the appellant, are opposed to law, equity, weight of evidence, probabilities, facts and circumstances of the case. 2. The learned CIT[A]/NFAC is not justified in upholding the addition of Rs. 20,67,056/- as the business income of the appellant determined on estimate basis at 10% of the purchases of liquor amounting to Rs. 2,06,70,598/- from M/s. Karnataka State Beverages Corporation Ltd. under the facts and in the circumstances of the appellant's case. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....me thereof is offered for taxation. It was stated in the return of income by the assessee that Veenus Cold Bar is having annual turnover of Rs. 16,68,546 on which the assessee has disclosed income @ 8% u/s. 44AD of the Act. The TCS amounting to Rs. 2,04,684 is on account of purchases of Rs. 2,04,65,914 on account of Yashraj Bar & Restaurant which was owned by Sri Manoj Kumar, who is the son of assessee having PAN: ACVPM 1467C, who has filed his return of income by furnishing the audit report u/s. 44AB of the Act where in the purchases are accounted for and corresponding income is shown. It was stated that the licence stands in the name of assessee for which TCS is made and the Yashraj Bar & Restaurant is run and owned by his son. Thus claim....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n by the sone of the assessee as purchases. The payments were also made by his son from his bank account with Canara Bank and PNB. To support his case, he submitted the ledger of KSBCL from the books of Yashraj Bar. Therefore it was submitted that the turnover of the Bar is income of Mr. Manoj Kumar, purchases of liquor is the expense of Mr. Manoj Kumar, both these items are shown in the income statement and annual accounts of Mr. Manoj Kumar. The ledger account of KSBCL and Bank account of Mr. Manoj Kumar shows that banking transaction are also made by him and not the assessee. He submits that merely because licence is in the name of assessee, TCS has been made in the name of the assessee, but actual transactions are carried out by Mr. Man....