9911796707
TMI Blog2013 (4) TMI 227X X X X Extracts X X X X X X X X Extracts X X X X ..... s those decisions were made on the basis of facts of respective cases. The assessee has failed to discharge the burden by furnishing necessary financial statement, books of account and other material to support that the Books of accounts maintained by the assessee was perfect and there was no mistake in maintaining books of account. The assessee has also failed to furnish any supporting evidence regarding purchase and sales - appeal filed by the assessee is dismissed. - ITA No.395/Agr/2011 - - - Dated:- 15-2-2013 - Bhavnesh Saini And A. L. Gehlot,JJ. For the Appellant : Shri Manoj Khurana, C.A. For the Respondent : Shri K.K. Mishra, Jr. D.R. ORDER This is an appeal filed by the Assessee against the order dated 31.03.2011 passed by the ld. CIT(A)-I, Agra for the Assessment Year 2006-07. 2. The effective grounds raised in this appeal pertain to addition of Rs.67,320/- being profit on sale out of the books of account and Rs.8,94,405/- being unexplained investment in purchase and sale. 3. The brief facts of the case are that the A.O. received information from the Investigation Wing, Agra that the assessee has made unaccounted sale of shoes to M/s Bajwa Rubber In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion estimated total sales of the assessee to the tune of Rs.75,00,000/-. The A.O. has wrongly applied N.P. rate of 7% to arrive at an income of Rs.5,25,000/-. As regards the addition of Rs.31,68,800/-, the assessee submitted that this addition has been made by overlooking the affidavit of the assessee filed during the assessment proceedings stating that she has never made any sales to M/s. Bajwa Rubber Industries. After considering the assessee's submission the CIT(A) provided photocopies of all the documents found during the course of survey of M/s. Bajwa Rubber Industries which was used in the assessment proceedings of the assessee for submitting reconciliation with the books of account of the proprietorship concern of the assessee i.e. M/s Bunny Trading Co, Agra. The A.O. was asked to examine the concerned entity of M/s. Bajwa group to ascertain whether the transactions of Rs.34,07,420/- held to be pertaining to the assessee actually belonged to her or not and the assessee should also be given opportunity for cross-examination. In response to the direction of the CIT(A), the A.O. made necessary enquiries and recorded the statement of Shri Srendra Bajwa of M/s. Bajwa Rubber Indu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the written submission. The said amount pertained to F.Y. 2005-06 relevant to A.Y. 2006-07, the year under consideration. After examining the impounded material and submission of the assessee, the CIT(A) calculated unaccounted sales during different period as under :- (paragraph no.5.7, page no11) "5.7 After analyzing all the above impounded documents, I find that the various sales recorded to have been made to the appellant by M/s Shoe World (Bajwa) Exports as the unaccounted sales during different period are as under :- AY 2005-06 (FY 2004-05) 1. for the period 20.07.2004 to 30.10.2004 Rs.7,46,490/- 2. for the period 15.10.2004 to 05.02.2005 Rs.5,90,760/- Total sales Rs.13,37,250/- AY 2006-07 (FY 2005-06) 1. for the period 26.05.2005 to 06.08.2005 Rs.5,74,965/- 2. for the period 12.09.2005 to 29.10.2005 Rs.3,19,440/- Total sales Rs.8,94,405/-" 6. On the basis of above calculation, the CIT(A) held that the A.O. was not correct in computing unaccounted sale made by the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... =894405 X=8,94,405 0.93 X=9,61,725.8Profit = 9,61,725.8 - 8,94,405=Rs.67,320/-" 8. The CIT(A) held that since profit of Rs.67,320/- was earned by the assessee over and above its regular profit of Rs.1,55,614/- shown in the Profit Loss Account, therefore, after considering the addition, the total profit including unaccounted profit comes to Rs.2,22,934/- (1,55,614 + 67,320/-). The CIT(A) directed the A.O. to take the total income of the assessee at Rsw.2,22,934/- as against Rs.5,39,093/- determined in the assessment order and accordingly allowed relief of Rs.3,16,159/-. The CIT(A) did not accept the A.O.'s working of estimation of sale, as sale was found without any basis. The CIT(A) directed the A.O. to take actual figure of the sale found recorded. 9. The ld. Authorised Representative reiterated the submissions made before the Revenue Authorities. It was submitted that the A.O. was not correct in rejecting the books of account maintained by the assessee on the basis of some unsigned paper sheets found during the course of survey in the premises of M/s. Bajwa Rubber Industries and M/s. Shoe World (Bajwa) Exports. The ld. Authorised Representative submitted that the additions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... seized documents, Ld. AR has also disputed the amount of Rs.34,07,420/- computed in the assessment order on the basis of the impounded documents and he has also worked out the relevant amount as to be only Rs.8,94,405/- in his written submission pertaining to FY 2005-06 relevant to AY 2006-07 under consideration." 12. Before us, the assessee relied upon various decisions which does not help to the assessee as those decisions were made on the basis of facts of respective cases. In the case under consideration, the assessee has failed to discharge the burden by furnishing necessary financial statement, books of account and other material to support that the Books of accounts maintained by the assessee was perfect and there was no mistake in maintaining books of account. The assessee has also failed to furnish any supporting evidence regarding purchase and sales. Contrary, it was admitted before the CIT(A), though on alternate ground, that on the basis of impounded documents the calculation of purchases was made by the assessee though the A.O. has wrongly considered the fact that the impounded documents pertaining to sale made by the assessee whereas after detailed examination by th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
