2017 (6) TMI 1296

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..... d the details with the assessee cannot help in making the assessment properly. On a further query, 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 we are of the considered opinion that in such peculiar .....

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..... 377; 13,17,294/-. The Assessing Officer initiated the assessment proceedings and called upon the assessee to furnish necessary details for enabling him to complete the assessment. CA Shri Amit K. Saraogi appeared on behalf of the assessee and filed a letter seeking adjournment. An adjournment was granted and the case was adjourned to 06.05.2010 then to 25.05.2010 then to 06.09.2010, then to 07.09. .....

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..... starting with the net taxable income as shown by the assessee amounting to ₹ 13,17,294. The assessee argued before the ld. CIT(A) that the Chartered Accountant who had maintained the books of account of the assessee was not traceable and had left from his known whereabouts without returning the books of account. The assessee compiled certain vouchers and details etc. and produced the same be .....

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..... 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, the ld. AR submitted that the books of account cannot be prepared even now and the assessment be finalized on the basis of the evidence available. In our considered opinion, the sketchy details sought to be relied by the ld. AR cannot enable the Assessing Office .....

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..... ise the assessment. Considering the entirety of the facts and circumstances of the instant case, we are of the considered opinion that in such peculiar circumstances it would be just and fair if the ad hoc disallowance of expenses made by the Assessing Officer at 25% be reduced to 12.5%. We order accordingly. The other two additions made by the Assessing Officer at ₹ 4.73 lac and ₹ 1.9 .....

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