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2016 (6) TMI 1330 - AT - Income TaxEstimation of income - assessee is a wholesale dealer in liquors - as contended that the assessee is a wholesale dealer in liquors and majority of the sales are to be wholesale consumers wherein profit margin is 2% only and hence, the A.O. is not justified in estimating the income/profit at 5% - Held that:- The assessee has not placed grounds and statement of facts filed before the CIT(A) and even in Form-36 the address to which the notice may be sent to the respondent was also wrongly mentioned as ‘Commissioner of Income Tax’ instead of furnishing correct address of the respondent. With regard to issue of estimation of income, the Ld. CIT(A) observed that no contrary decisions were placed on record and therefore, the Ld. CIT(A) followed the decision of ITAT in the case of ITO, Warangal vs. Shri P. Ramaiah and others [2013 (12) TMI 1001 - ITAT HYDERABAD]. Though the assessee preferred an appeal before the Tribunal no reported decision was placed before us and no material whatsoever was furnished to contradict the findings of the A.O. as well as CIT(A). Under these circumstances, we do not find any infirmity in the order passed by the CIT(A) and therefore, dismiss the appeal filed by the assessee.
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