9911796707
TMI Blog2003 (9) TMI 699X X X X Extracts X X X X X X X X Extracts X X X X ..... reight receipt of Rs. 23,01,510 against the diesel consumption of Rs. 42,601. After debiting all expenses the assessee declared net loss of Rs. 1,14,240. It has also been noticed by the Assessing Officer that the assessee was not maintaining log book of the vehicles and on that basis the Assessing Officer rejected the books of account and estimated income from trucks at the rate of Rs. 1,800 per month. 3. The CIT(A) after considering the submission of the assessee held that the assessee has plied two trucks only for six months, the income from these trucks should be estimated only for six months and not for full year. The income from two trucks estimated by the Assessing Officer is taken at Rs. 21,600 as against Rs. 43,200 estimated by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... specified under sub-section (1) and (2) of section 44AE. In that circumstances the Assessing Officer should examine the books of account in detail and assessment is required to be made under section 143(3) and not under section 44AE. If the Assessing Officer found that the assessee has not maintained proper books of account he may reject the books of account and estimate a reasonable and fair income for the year under consideration from the truck plying business. Since the Assessing Officer has not examined the case on above line and has not recorded complete facts, under the circumstances, we send back this issue to the file of the Assessing Officer with a direction to decide the same afresh in accordance with law after giving reasonable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner addition should be deleted. 2. Arvind C. Patel : He has confirmed the amount paid which is out of his 3 years savings he is a partner genuine party so addition should be deleted. 2. Square up Accounts : As regards sq. up. accounts all the parties are genuine parties. We have filed confirmation from the party 1. Maheshbhai B. Bhatt from where he has given the amount. 2. Upendra K. Khatri: He is son of K.T. Khatri. He has given amount out of his salary income confirmation etc. is not called as he is son of partners copy of a/c. is filed. 3. Jayshriben C : Copy of confirmation obtained is filed. She has given amount out of her embroidery work receipt. Ld. Dy. Commissioner should examine the parties before making addition. As ou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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