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TMI Blog2012 (9) TMI 656X X X X Extracts X X X X X X X X Extracts X X X X ..... andatory for a person for maintaining the books of accounts at his residence or at his business premises & the AO was not justified in refusing to admit the books of accounts specially when the returned income was more than the receipts during the seizure - in favour of assessee. - INCOME TAX APPEAL No. - 217 of 2009 - - - Dated:- 3-9-2012 - Sunil Ambwani, Aditya Nath Mittal, JJ. Petitioner Counsel : - S.C./R . K . Upadhyaya Respondent Counsel : - A. Bansal , S.K. Garg 1. We have heard Shri R.K. Upadhyay, learned counsel appearing for the Income Tax Department. Shri Ashish Bansal appears for the respondent-assessee. 2. Brief facts, giving rise to this Income Tax Appeal, are as follows:- "A search was conducted at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he normal course of business." 3. The Tribunal partly allowed the appeal with the findings that the entire receipts in the material alleged to be incriminating, was entered in the books of accounts produced by the assessee . In fact, the assessee had filed returns for three years before the search in which the receipts are more than the receipts as per seized record for the assessment years 1999-2000, 2000-2001, 2001-02, and also in the return filed after search for the assessment year 2002-03. 4. The Tribunal found that the books of accounts produced before the Assessing Officer, were not considered and compared with the loose sheets and registers. The Tribunal did not hold the addition of Rs. 14, 13, 125/- as confirmed by the CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as taken to be an adverse circumstance against the assessee . 7. The Tribunal has considered both the aspects, namely the explanation given by the assessee for the absence of books of accounts at the hospital as well as the delay in filing the accounts book. It held that such circumstances could not be treated as adverse as the assessee had disclosed the income more than the receipt as per the seized record . 8. Shri R.K. Upadhyay appearing for the revenue has not been able to point out any provisions in the Income Tax Act, 1961 which makes it mandatory for a person for maintaining the books of accounts at his residence or at his business premises. We also find that the AO was not justified in refusing to admit the books of accounts ..... X X X X Extracts X X X X X X X X Extracts X X X X
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