TMI Blog2000 (4) TMI 162X X X X Extracts X X X X X X X X Extracts X X X X ..... disallowance of Rs. 15,498 out of motor vehicle expenses and depreciation and Rs. 5,000 out of telephone expenses. 2. We have heard the arguments of both the sides and also perused the records. 3. Ground No. 1 has not been passed by the learned authorized representative during arguments, and so the same is dismissed accordingly. 4. Ground No. 2 disputes the trading addition of Rs. 26,363. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AO in assessee's accounting system or in account books. He has contended that mere absence of stock register cannot justify rejection of accounts or books. He has cited Soni Co. vs. Asstt. CIT (2000) Direct Taxes Courier Vol. 14, p. 122 and Vinod Kumar Pramod Kumar vs. ITO (2000) 66 TTJ (Jd) 722, in his support. As against this the learned Departmental Representative of Revenue has contended tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pur Bench of Tribunal that mere absence of day-to-day stock records or meagre fall in GP rate cannot by themselves justify rejection of the book results and the AO cannot invoke the proviso to s. 145(1) or 145(2) on that basis alone. As such considering all the facts and circumstances of the case and respectfully following the above-mentioned decisions of the Tribunal we are of the view that the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tenance and depreciation is somewhat excessive and so we restrict the same to one-fourth of the claim as against 1/3rd of the claim as disallowed by the authorities below. However, as regards the disallowance pertaining to telephone, we do not consider the same to be excessive in the circumstances of the case. We, therefore, uphold this disallowance. 8. Grounds No. 4 and 5 are general in nature ..... X X X X Extracts X X X X X X X X Extracts X X X X
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