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TMI Blog2011 (2) TMI 35X X X X Extracts X X X X X X X X Extracts X X X X ..... S. PADVEKAR) JUDICIAL MEMBER [ORDER].- In this appeal the assessee has challenged the impugned order of the Ld. CIT (A) partly sustaining the addition made by the A.O. for the A.Y. 2005-06. 2. There is delay in filing present appeal by 6 days. I have heard the parties and also considered the reasons given by the assessee in his affidavit for condoning the delay. After giving my anxious consideration for condoning the delay, I do hereby permit to condone the delay and admit the appeal for hearing. 3. The assessee has taken the following effective grounds:- 1. In the facts and circumstances of the case and in law, the learned Commissioner of Income Tax (A) erred in estimating receipts from polishing charges at Rs.1,26,000/-without ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IT (A) and Ld. CIT (A) who restricted the estimation made by the A.O. at Rs.1,26,000/- as against Rs. 1,60,000/-. The Ld. CIT (A) has given following reasons:- 6. I have carefully considered the facts and submissions of the appellant and also perused the order of the A.O.. Admittedly the A.O. has estimated the labour charges receipt of appellant on an average of Rs. 400-500 per day against the claim of the appellant of 100-250 per day. It is an admitted fact that the appellant has also declared its income from labour charges for polishing on estimated basis only, though claimed having maintained a diary for cash receipts but this was never claimed before the AO. Neither the alleged diary of cash receipts is produced before the A.O. nor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pleaded for deleting the entire addition. I have also heard the Ld. D.R. 6. Admittedly, the assessee has not maintained the books account but has filed the prepared Balance-sheet. It is seen that, the assessee is merely drawing labour work of the goldsmiths earned the income. After carefully considering the reasons mentioned in the Assessment Order, in my opinion there is base for the A.O. to estimate the gross receipt at Rs. 400 to 500/-. In same way, the Ld. CIT (A) has also estimated the labour charges may be at a lower rate but same were not supported by any material evidence. The Balance-sheet filed by the assessee is on record. Moreover, as per the provisions of section 44AA, the turnover of the assessee is below ₹ 10 lakhs an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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