9911796707
TMI Blog1980 (6) TMI 74X X X X Extracts X X X X X X X X Extracts X X X X ..... red amounted to Rs. 42,000. ITO raised it to Rs. 50,000. The AAC sustained the estimate of the ITO. Before us it is urged by the learned counsel for the assessee that the estimate made by the authorities below was rather excessive. We are inclined to agree. Even if the assessee did not maintain books and the truck was brand new, the assessee s own estimate at Rs. 42,000 could not be said to be so low as to justify an increase by Rs. 8,000. At the same time the fact remains that the assessee did not maintain any record to support the assessee s estimate of Rs. 42,000. Considering the fact we feel that the proper estimate should be Rs.45000. We accordingly reduce the truck income from Rs. 50,000 to Rs. 45,000. 3. In ITA No. 490 the dispute ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee s income from undisclosed sources. 4. In appeal it was urged before the ld. AAC that sufficient material had been produced before the ITO to establish the source out of which the own investment in the truck was made and, therefore, the ITO was not justified in treating the investment of Rs. 33,698 as being out of the assessee s own income from undisclosed source. It was also stated before the ld. AAC that the parties whose affidavits were filed had been produced before the ITO but the ITO could not record their statements for want of time. It was further urged that the assessee could produce those parties before the ITO if an opportunity had been given. The learned AAC felt it necessary that the ITO examined these parties and for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Raja Ram and Shri Des Raj as recorded by the ITO. It appears that Shri Raja Ram had stated that the amount was paid after receipt from the employers of his two sons. The ld. AAC has said that the name of the employer was not mentioned to him. Before us it is stated that the name of the employer had been mentioned to the ITO and also to the AAC. The ld. counsel stated before us that the employer was Sardar Atma Singh of Makand who is an agriculturist and two sons of Shri Raja Ram worked for him on his farm. Regarding Shri Desraj the amount was stated to be partly out of sale proceeds of buffalo for Rs. 2,500 and partly contributions made by his sons who were working on the agricultural lands of other parties. On an over-all view of the facts ..... X X X X Extracts X X X X X X X X Extracts X X X X
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