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TMI Blog2013 (12) TMI 410X X X X Extracts X X X X X X X X Extracts X X X X ..... , J.M. This appeal preferred by the assessee is directed against the order of CIT(A)-IV, Hyderabad, dated 27/12/2011 for the assessment year 2007-08. 2. Briefly the facts of the case are that the assessee filed its return of income on 04/12/2007 declaring income of Rs. 2,93,898/-. The case was selected for scrutiny and statutory notices were issued. No details were furnished and nobody attended ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n sales came to Rs. 1,07,19,911/-. The AO also disallowed the expenditure u/s 40(a)(ia) as TDS had not been deducted on the commission and brokerage paid for Rs. 4,44,315/-, which was added to the total income of the assessee company. 4. Aggrieved, the assessee carried the matter in appeal before the CIT(A). 5. Before the CIT(A), the assessee had averred that the order u/s 144 of the Act was pas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relevant books of accounts/information was furnished and after thorough verification thereof, the income returned by the assessee had been accepted. The assessee pointed out that for the year consideration the books of account, vouchers, etc. were lost in fire accident. The assessee argued that the AO did not consider the facts of the case or even the basis of the scrutiny assessments made in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal: "1. The learned CIT(A) erred in confirming the estimate of income as Rs. 1,13,53,185/- 2. The learned CIT(A) failed to note that an estimate of income in an assessment made u/s 144, should be fair and reasonable having regard to the past records of the appellant. 3. The learned CIT(A) failed to note that the appellant was prevented by reasonable and sufficient course in not responding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 78 0.05 Return filed 9. The learned DR, on the other hand, had no objection when the bench suggested that the issue can go back to the file of the AO, who had no occasion to look at the statements for the earlier years. In these circumstances, we deem it fit and proper to restore the issue to the file of the AO to consider the average percentage of profit adopted in the assessment years 2005-06 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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