9911796707
TMI Blog2017 (6) TMI 1296X X X X Extracts X X X X X X X X Extracts X X X X ..... eal by the assessee is directed against the order passed by the CIT(A) on 24.03.2014 in relation to the assessment year 2008-09. 2. Briefly stated, the facts of the case are that the assessee showed gross receipts at Rs. 1.53 crore and commission income of Rs. 8.34 crore giving net profit of Rs. 13,17,294/-. The Assessing Officer initiated the assessment proceedings and called upon the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to Rs. 58,25,710/- which were not declared by the assessee, but, the information was available about deduction of tax at source; and addition u/s 69C amounting to Rs. 1,90,108/-, being the unexplained expenditure. This resulted in completion of assessment at Rs. 57.06 lac starting with the net taxable income as shown by the assessee amounting to Rs. 13,17,294. The assessee argued before the ld. C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t K. Saraogi, the assessee's Chartered Accountant, who initially appeared before the Assessing Officer as well, did not participate in the assessment proceedings as he was stated to be not traceable later on. The assessee's case is that the books of account were in computer of the CA and were not made available to him before leaving. On a specific query during the course of proceedings before us, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment properly. On a further query, the ld. AR submitted that this was the only year in which the assessee carried on business. This indicates that there are no comparable figures for the earlier years from which some assistance could be taken to finalise the assessment. Considering the entirety of the facts and circumstances of the instant case, we are of the considered opinion that in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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