9911796707
TMI Blog2023 (5) TMI 1371X X X X Extracts X X X X X X X X Extracts X X X X ..... -alia that :- "1. The FAA erred in not accepting the contention of Appellant filed before FAA along with documents and submissions made. 2. The FAA went on to confirm the Order of A.O on assumptions and presumptions without bringing any legal defect/discrepancy in submission made before FAA. 3. The A.O during the Assessment proceedings was gone ahead with same findings which is confirmed by the FAA Ld. CIT(A). 5. The Appeal is in time and order. 6. The Appellant craves leave to add, alter or amend any of the grounds on or before the final date of hearing." PRAYER The Appellant therefore prays that the estimation of Income U/s. 69A which is regular Cash from the Books of Account deposited by the Appellant need not be added and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otice under section 133(6) to Shamrao Vithal Co-operative Bank, Vashi and in response thereto the bank has given detail. Thereafter, summons were issued and served on the assessee company through affixture, but none attended. However, subsequently one Shri Surjit Singh Vig, Shri Manraaj Puril and Shri Sunil Nagare have attended and got recorded their statement. The assessee also submitted the details called for along with cash book, bank statement, balance sheet, profit & loss account for the year ending 31.03.2017 & 31.03.2016 the sale figures and cash deposits have been furnished for the year ending 31.03.2016 and 31.03.2017. The AO noticed that the cash sales shown by the assessee are on higher side in comparison to the cash purchases an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the amount of Rs.50,000/- and added the same to the income of the assessee and thereby assessed the total income at Rs.28,31,040/-. 3. The assessee carried the matter before the Ld. CIT(A) by way of filing appeal who has confirmed the addition by dismissing the appeal. Feeling aggrieved with the impugned order passed by the Ld. CIT(A) the assessee has come up before the Tribunal by way of filing the present appeal. 4. I have heard the Ld. Authorised Representatives of the parties to the appeal, perused the orders passed by the Ld. Lower Revenue Authorities and documents available on record in the light of the facts and circumstances of the case and law applicable thereto. 5. Undisputedly the assessee has not filed return of income under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... days and he was having 9000 regular sale and was serving 32 dishes on 10 table available in his restaurant but all these facts have not been considered by the AO as well as the Ld. CIT(A). 7. However, on the other hand, the Ld. D.R. for the Revenue relied upon the assessment order as well as the impugned order passed by the Ld. CIT(A) and contended that sufficient opportunities were given to the assessee but he has not duly explained the queries raised by the AO. I have examined the return of income filed by the assessee for A.Y. 2016-17 available at page 77 of the paper book and petty cash book available at page 86 to 100 wherein the assessee was having closing cash of Rs.24,40,212/- which has already been accepted by the Revenue Authorit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9. When the assessee has duly explained the details of cash sales, cash deposit, sales and purchase for the year under consideration, which have not otherwise been disputed by the AO there is no need to rush to the estimation and guess work by the AO. Rather the audit account books are required to be examined in entirety. 10. Moreover, the assessee has come up with categoric plea that his entire sale was in cash from a bar and restaurant business which runs 365 days in a year accept on dry days and having average regular sale of 9,000 per day as it is serving 32 dishes on 10 tables. However, all these facts and documents have not been examined by the AO. 11. To decide the issues raised in this appeal once for all, all the account books a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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