9911796707
TMI Blog2016 (9) TMI 1335X X X X Extracts X X X X X X X X Extracts X X X X ..... over and has further erred in sustaining the addition to the extent ofRs.24,61,867/- in this regard, more so when turnover of Rs. 3,07,73,348/- does not pertains to the assessee in any manner and impugned addition has been made by recording incorrect facts and findings and without bringing any adverse material on and without considering/appreciating the submissions of assessee. 2. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in not considering the fact that assessee is carrying business of the retail trade as well as Kachacha Arhartiya of fruit and vegetable on commission basis and has further erred in not allowing expenses of Rs. 7,69,334/- paid to Mandi Samiti Shulka and Vikas C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /- and declared NP rate @8% under presumptive income u/s. 44AD as compared to the FY 2009-10 @4.70%. The AO observed that the assessee had made sale of Rs. 3,07,73,348/- during FY 2010-11, therefore, the assessee was asked to show cause why NP @10% of total sales of Rs. 3,07,73,348/- might not be applied and he was also asked to furnish all the books of accounts maintained by the assessee alongwith the vouchers for expenses. In response, the assessee had submitted revised sales on the basis of the certificate issued by Krishi Utpadan Mandi Samiti, Ghaziabad and the basis of turnover on own account trading account. The assessee had also produced photocopy of day today sale and purchase accounts maintained by the Krishi Utpadan Mandi Samiti. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te Authority has adjudicated the issue in dispute vide para no. 5 to 6 at pages 9 to 10 in his impugned order. The said relevant paras of the impugned order are reproduced as under:- "5. Having considered facts of the case, submission of the appellant and assessment order of the AO, the appeal is decided as under: 5.1 It is seen that the assesse had cleared gross receipt of Rs. 2475290/- and declared NP @8%. However, on inquiries it was found that turnover of Rs. 30773348/- had not been disclosed by the assessee. The AO confronted this fact to assessee and asked him to show cause why NP of 10% should not estimated on undisclosed sales of Rs. 30773348/- and why an addition of Rs. 30,77,334/- be not made in the income of the assessee. On ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 90/- and declared NP @8%. However, on inquiries AO found that turnover of Rs. 30773348/- had not been disclosed by the assessee. The AO confronted this fact to assessee and asked him to show cause why NP of 10% should not estimated on undisclosed sales of Rs. 30773348/- and why an addition of Rs. 30,77,334/- be not made in the income of the assessee. On being so confronted the assessee stated that he was doing business as trader as well as on commission basis. However, he did not submit any details of his sales / purchases of trading turnover or commission turnover before the AO. The assessee submitted that he earned his commission income of Rs. 61,546/- @3% after deducting various expenses. Therefore, the AO estimated NP of 10% on turnover ..... X X X X Extracts X X X X X X X X Extracts X X X X
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