Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2014 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (3) TMI 811 - HC - Income TaxOffer to surrender treated as admission – Inability to produce evidence under Rule 46A of the Rules - Whether the Authorities below wrongly construed the offer to surrender as an admission - Held that:- The Assessing Officer considered net profit at the rate of 5% and made addition accordingly on the amount of Rs. 11,12,052/- on the failure of the assessee to produce any documents regarding giving of such spare parts to the purchasers - the CIT(A) considered the additional evidence sought to be produced by the appellant and upheld the view of the AO - assessee contended that he has lead sufficient evidence to prove that the tractor’s parts were given to the purchasers of the tractors, as a farmers kit without any charges and the same could not be added to the income of the appellant - the entire evidence has been taken into consideration by the CIT(A) - the CIT (Appeals) has not accepted the plea raised by the appellant – the finding returned is based on the facts which were before the CIT(A) – thus, there is no substantial question of law arises for consideration – Decided against Assessee.
|