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TMI Blog2018 (9) TMI 1689X X X X Extracts X X X X X X X X Extracts X X X X ..... for Assessment Year 2004-05 filed by the assessee against the order of the ld CIT(A), (Central), Phase- V, Gurgaon dated 14.03.2014 for the Assessment Year 2004-05 raising only issues with respect to validity of jurisdiction u/s 153A of the Act as well as addition of Rs. 75965/- confirmed by the ld CIT(A), with respect to certain trading activities. 3. Firstly, the assessee filed original grounds of appeal in Form No. 36 but found certain discrepancies in those grounds and revised the grounds of appeal. In the revised grounds the assessee challenged the ground u/s 153A of the Act. 4. The ld DR vehemently objected to the fact that in original ground of appeal no such ground was mentioned, however, in the revised ground the assessee has rai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... addition of Rs. 136489/- on account of business. An addition of Rs. 144000/- was also made on account of household expenses. Consequently, the total income was assessed at Rs. 280490/-. The assessee challenged the same before the ld CIT(A), who dealt with the above addition of Rs. 136489/- and consequently on the appraisal of annexure A-3 seized during the course of search held that addition of Rs. 75965/- pm;u to be sustained for this year. The assessee aggrieved with this has come in appeal before us. 10. The ld AR submitted that addition is beyond the purview of section 153A of the Act and even otherwise in case of sale transaction found related to trading activities only profit embedded therein can be added. 11. The ld DR relied upon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enditure incurred thereof. In view of this, we are of the opinion that proper percentage of gross profit needs to be added in the hands of the assessee and not the whole turnover. Such is also emanated in the decision of the Hon'ble Supreme Court in case of Vijay Proteins Ltd. Now the issue arise is what could be the gross profit ratio which can be added in the hands of the assessee. The assessee has not given any basis of the GP ratio for this year as whole business of the assessee is unaccounted. The assessee has also not given any past history of the business of the assessee and resultant profit thereof. Therefore, in absence of any guidance available from the past history of the assessee or any comparable shown to us by any party, w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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