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2013 (12) TMI 1413 - AT - Income TaxDeletion of Confirmation of Gross receipt – Held that:- Only profit portion has to be brought to tax after considering the facts and reasonably estimating the profit margin of the appellant - the appellant has acted only as a mediator between the consigner and the truck-owner/driver and the consideration is only commission and not freight - He does not have any vehicles of his own - the appellant is only a commission agent - The CIT (A) has followed the order of the Tribunal while directing the Assessing Officer to apply net profit rate of 7% - There was no infirmity in the direction given by the Ld CIT (A) to the Assessing Officer to apply net profit rate of 7% - decided against Assessee. Confirmation of Addition of 40% of Expenses of office expenses and fuel expenses - Held that:- The appellant has not submitted anything - the appellant has miserably failed in substantiating his claim and discharging his onus of proving the genuineness of expenses - the disallowance made by the A.O. confirmed - No material has been placed before us to rebut the findings recorded by the CIT (A) - the expenses are not fully vouched – Decided against Assessee.
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