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TMI Blog1993 (5) TMI 61X X X X Extracts X X X X X X X X Extracts X X X X ..... under the head trading account. The same be deleted in the interest of justice and on the facts. 2. The learned Dy. CIT(A) erred in sustaining the addition of Rs. 2,000 out of travelling expenses and the same be deleted in the interest of justice and on the facts." 2. The assessee is mainly engaged in sale and purchase of sheep skins and wool. While making the addition the Assessing Officer m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lf, vide his letter dt. 24th Oct., 1990 placed on record, and the statement showing the details of wool purchased and sold submitted by the assessee, placed on record, stated that this 1065 kgs. of wool was from processing of skins from April, 1988 to August, 1988 in small quantity. This quantity of wool was extracted in processing during the period of 5 months. Therefore, for the remaining 7 mont ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the rate of Rs. 22 per kg. the rate at which the assessee has sold wool, the total sale of 1490 kgs. of wool works out to Rs. 32,800 and the same is added to the trading results declared by the assessee." 3. Before the Dy. CIT(A) the assessee had made written submissions claiming that the addition was totally baseless because the assessee had not made any sale outside the books of account as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the time of hearing the representatives of both the sides were heard. In the paper book filed by the assessee, it is found that an affidavit of Shri Abdul Rehaman dt.16th March, 1993is also placed as an additional evidence but no reference was made to this evidence and, therefore, the same is ignored. On perusal of the material I am inclined to hold that addition of Rs. 32,800 made by the Assessi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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