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TMI Blog2014 (7) TMI 855X X X X Extracts X X X X X X X X Extracts X X X X ..... ires proper verification by the AO, the order of the CIT(A) is set aside and the matter is remitted back to the AO for verification – Decided in favour of Assessee. - ITA No.79/LKW/2012 - - - Dated:- 27-5-2014 - Sunil Kumar Yadav And A K Garodia, JJ. For the Appellant : Shri Yogesh Agrawal, Adv. For the Respondent : Shri Alok Mitra, DR ORDER :- PER : Sunil Kumar Yadav This appeal is preferred by the assessee against the order of the ld. CIT(A), inter alia, on the following grounds:- 1. The Learned Commissioner of Income Tax-(Appeals)-II, Lucknow [here-in-after referred to as the Learned CIT (Appeals)] erred on facts in law in determining the receipts at ₹ 24,86,843/- instead of ₹ 18,51,712/- and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. That the Ld. CIT(A)'s did not afford the appellant any proper or sufficient opportunity to have his say or make necessary compliance of the reasons relied upon by him in passing the present order and thus the order passed without affording adequate opportunity may kindly be ordered to be quashed. 2. Though various grounds are raised, but they all relate to the estimation of net profit of the assessee from the business of truck plying and transport commission. 3. The brief facts culled out from the orders of the lower authorities are that the assessee has disclosed income from truck plying business under section 44AF of the Income-tax Act, 1961 (hereinafter called in short the Act ) and transport commission income at 5% profit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed with the explanation of the assessee and he estimated the net profit at ₹ 8,82,118/-, against which an appeal was filed before the ld. CIT(A), but the assessee did not find favour with him, as he was not convinced with the explanation of the assessee. The ld. CIT(A), however, restricted the addition to ₹ 5,70,585/-. 5. Aggrieved, the assessee has preferred an appeal before the Tribunal with the submission that at the time of filing the return of income, receipt of ₹ 28,06,336/- included the payments received from M/s Ramgarh Chini Mills and M/s Singhivi Foods (P) Ltd. TDS certificate from M/s Ramgarh Chini Mills was duly received before filing the return of income, whereas the TDS certificate from M/s Singhivi Foods ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the turnover shown as per TDS certificate or the corresponding expenditure for the month of April and May, 2007 be allowed in order to determine the net profit of the assessee at 5%. 7. The ld. D.R., on the other hand, has strongly placed reliance upon the order of the ld. CIT(A). 8. Having given a thoughtful consideration to the rival submissions and from a careful perusal of the orders of the authorities below, we find that though the assessee has initially adopted the figure of turnover shown in the TDS certificate, but during the course of assessment proceedings, the assessee has explained that he has taken the total turnover shown in the TDS certificate wrongly and the turnover for the month of April and May, 2007 were included ..... X X X X Extracts X X X X X X X X Extracts X X X X
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