9911796707
TMI Blog2013 (4) TMI 819X X X X Extracts X X X X X X X X Extracts X X X X ..... 0/- on 30.09.2009. The assessee also enclosed an Audit Report obtained for the financial year 2007-08 relevant to assessment year 2008-09. The perusal of this Audit Report showed that the assessee has debited various expenses to the works account. The details of these expenses are as under: S.No. Nature of expense Amount 1. Mitti Expenses Rs.19,44,000/- 2. Tractor Trolley Expenses Rs.18,68,096/- 3. Road Roller Expenses Rs.16,62,155/- 4. Water Expenses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he persons/parties against which payments under various heads i.e. Mitti Expenses, Tractor Trolley Expenses, Water Expenses, Road Roller Expenses etc. are made. The assessee has produced only self made vouchers in proof of making payments under the various head as mentioned above. iii) The onus was on the assessee to produce the persons for examination to whom the payments were made and the assessee has shown its inability to produce them for examination. Whereas it was necessary to do so to verify the genuineness of the payments made to them. iv) The information received from the District Transport Officer, Sangrur clearly reveals that three of the five vehicle (i.e. one three wheeler two Scooters) are actually not capable fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng grounds. 1. That the worthy Commissioner of Income Tax (appeal) Patiala was not justified in confirming the action of assessing officer of rejecting the Audited books of accounts also erred by ignoring the explanation given by appellant in respect of each every discrepancies noted by assessing officer. 2. The worthy Commissioner of Income Tax (Appeals) has erred by applying the net rate @ 8% against the gross payment of ₹ 9,68,46,622.00 ignoring the fact nature of case. 3. The worthy Commissioner of Income Tax (Appeals) has erred by ignoring the past history of the case assessment order passed U/S 143(3) by JCIT Sangrur for immediate Preceding Assessment Year 2007-08 despite of fact that there is no change ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... penses disallowed by AO Net Profit after disallowance Assessed Net profit rate u/s 143(3) PAST 2007-08 101051091 1549451 1.53 725370 2274821 2.25 PRESENT 2008-09 96846622 2928708 3.01 Rate @ 10% was applied which was Reduced to 8% by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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