2010 (6) TMI 674

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the Commissioner of Income-tax (Appeals) at Belgaum, on October 28, 2009. These appeals arise out of the assessments completed under section 143(3) read with section 144 of the Income-tax Act, 1961. The assessee in this case is a dealer in kirana goods doing business in the name of proprietary concern M/s. Hemendra Kirana Bhandar. A case of unaccounted sales was made out against the assessee for .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... re, the second appeal before us. The facts of the case are very well detailed in the assessment order and in the order passed by the Commissioner of Income-tax (Appeals). As rightly pointed out by the Commissioner of Income-tax (Appeals), even in the case of suppressed turnover, there would be incidence of proved expenditure. On that ground, the Commissioner of Income-tax (Appeals) is justified .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ify the net profit rate to 3 per cent. Since the income has been determined on a net profit ratio basis, no further deduction can be given on account of expenses. Therefore, the Commissioner of Income-tax (Appeals) has rightly disallowed the claim of sales tax payments. In result, these two appeals filed by the assessee are partly allowed. The order pronounced on Wednesday, the 9th day of June .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X