9911796707
TMI Blog1990 (4) TMI 106X X X X Extracts X X X X X X X X Extracts X X X X ..... involved is 1984-85. During the year she was having one truck RJB 5565 which she purchased on 12th Feb., 1982 for Rs. 1,50,000. It was a 1979 model TATA-TMB make. The assessee disclosed receipts from plying of this truck at Rs. 2,35,180 upon which she declared a net profit of Rs. 5,373 only. That gave a net profit rate at 2.2 per cent only as against 11.5 per cent of the immediately preceding yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts from plying the trucks which brought the net profit at 20 per cent. The assessee appealed to the learned CIT (A) but was unsuccessful. Hence this appeal. 3. Mr. Ranka, the learned counsel for the assessee, vehemently urged that the learned CIT (A) has not correctly appreciated the evidence available on the record of the assessments. IT was pointed out that all the vouchers had been submitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e case of the assessee with regard to the results in earlier years. On the other hand, the learned Deptl. Representative supported the order under appeal. 4. After having gone through the original as wells other records produced before us, we feel inclined to agree with the CIT (A) on the issue on hand. The details of purchase of tyres surprisingly show that during the year under consideration a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le. In that case the assessee had maintained truck-wise and trip-wise receipts and expenditure registers which could serve the purpose of log book. The increase in certain expenditure which caused the low gross profit rate was also properly explained by the assessee. It was on these facts that the rejection of the books of accounts of the assessee was declared improper. In the case before us, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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