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TMI Blog2003 (4) TMI 497X X X X Extracts X X X X X X X X Extracts X X X X ..... sing stock to the tune of Rs. 2,04,892. The Assessing Officer made out the case that assessee was furnishing the statement of goods hypothecated to the Central Bank of India from time to time. Such statement for February 1986 was duly furnished to the Bank. The assessee could not submit the statement of goods to the Bank on 31-3-1986. The AO found discrepancy in the statement and stock maintained by the assessee. The AO has took the stock on 31-3-1986 as per the book and Assessing Officer found that it was not tally with the books. Therefore, Assessing Officer has added the income of the assessee. 3. The CIT(A) in his order in para 9 by observing as under : "9. .................there was a suppression of the stock only of Rs. 45,402. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e discrepancy in the stock of packing materials noted in the record on 1-4-1986 and on 31-3-1986 is not explained since that is included in the dead stock as unusable packing materials. The addition is deleted. There would be relief of Rs. 39,486." 6. We have considered the rival submission of both the parties. Looking to the facts and circumstances of the case, the assessee has included the packing materials in dead stock as unsaleable packing materials. Therefore, the CIT(A) is justified in deleting the addition of Rs. 39,486. So, our interference is not required. Hence, this ground of appeal is dismissed. 7. The third ground of appeal is against deletion of addition made on account of cash credit as income from other sources. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the CIT(A) and the issue is decided in favour of the Revenue. Hence, this ground of appeal is allowed. 12. The fifth ground of appeal is against the disallowance of Rs. 69,292 towards the travelling and misc. expenses. The Assessing Officer made out the case that no details were assessee has kept expenses of Rs. 69,292 out of books of account. No details were submitted to Assessing Officer. The CIT(A) has deleted this addition. 13. Looking to the facts and circumstances of the case, the assessee has not supplied any details of expenses before the Assessing Officer. Therefore, we restore this issue to the file of Assessing Officer to decide the same afresh after giving an opportunity of being heard to the assessee. 14. The si ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ddition of Rs. 4,000 towards the fees of audit. 20. The nineth ground of appeal is against in allowing the bad debts of Rs. 12,177. 21. Looking to the facts and circumstances of the case, the issue in controversy is covered by the decision reported in Travancore Tea Estates Co. Ltd. v. CIT [1998] 233 ITR 203 (SC), in which it was held that unless and until the debts become bad no allowance can be made. In view of this, it is decided against the assessee. 22. The tenth ground of appeal is against in allowing the relief under section 80W of Rs. 5,000 in respect of professional fees. The Assessing Officer has not allowed the expenses of Rs. 5,000 towards the professional fees, the CIT(A) has allowed Rs. 5,000 deduction on the g ..... X X X X Extracts X X X X X X X X Extracts X X X X
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