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TMI Blog2012 (8) TMI 64X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs.33,59,180/-, on the facts and circumstances of the case and in law, the Ld. CIT (A) has erred in treating the sales as per return of Rs.3,14,44,217/- is inclusive of unaccounted sales worth Rs.2,08,81,.533/-. 3. While deleting the addition of Rs.33,59,180/-,on the facts and circumstances of the case and in law, the Ld. CIT (A) has erred in treating the profit estimated of Rs.50,05,949/- is inclusive of profit worked out of Rs.33,59,180/- on unaccounted sales worth Rs.2,08,81,533/-. 4. It is therefore prayed that the order of the Ld. CIT (A) be set aside and that of the A.O. be restored. The appellant craves to add, alter or amend any grounds of appeal." 3. The hearing in this case was fixed several times but nobody appeared. At the t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs.3,14,44,217/-. In the absence of any details/clarification from assessee, the A.O. considered and allowed Rs.2,64,38,268/- as being towards the cost of raw materials and other expenses. The A.O. accordingly computed net profit of Rs.50,05,949/- (3,14,44,217 less 2,64,38,268) and added it to the total income. Further on the basis of information provided by the Central Excise and Customs Department to Chief Commissioner of Income tax, it was revealed that on 1-8-2006, Central Excise and Customs Department, Daman conducted enquiry at the business premises of assessee and recovered 12 invoices which showed illicit sales. The illicit sales were admitted by the partner before Central Excise authorities. In the absence of any reply from assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the deletion of Rs.33,59,180/- was wrong as 2 types of sales namely accounted and unaccounted sales are involved. On the accounted sale the net profit comes to Rs.50,05,949/- and on unaccounted sale the net profit comes to Rs.33,59,180/-.Since Ld. CIT (A) has upheld net profit on accounted sale he should have upheld the net profit on unaccounted sale also. He further contended that there was no material on record to prove that profit on unaccounted sale was inclusive of the total net profit estimated by A.O. 10. We have heard Ld. D.R. and perused the material on record. The factual matrix of the case is that the assessment was made by A.O. u/s.144 as there was no appearance before A.O. Even before CIT (A), there was no representation from ..... X X X X Extracts X X X X X X X X Extracts X X X X
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