TMI Blog2012 (12) TMI 724X X X X Extracts X X X X X X X X Extracts X X X X ..... al house at Amritsar. These facts are coming in the order of the CIT(A) itself and as per statement of total income of the assessee it will be interest of justice, if the matter is setaside to the file of the CIT(A) who after considering the provision of section 54 instead the provisions of section 54F will decide the issue afresh. Trading addition being difference between sundry debtors and the sales – Held that:- Books of account of the assessee have not been rejected. The assessee having filed all the copies of account of trade creditors as confirmed by the AO by issuing notice u/s 133(6) therefore, the genuineness of the trade creditors cannot be doubted - ground raised by revenue dismissed Addition due to inadequate household wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dition of Rs.2,50,030/- made by the A.O. holding that the AO has failed to bring on record any positive and corroborative evidence to disprove the genuineness of the trading results and he also erred in deleting the addition of Rs.1,63,603/- made by the A.O. on account of various business expenses holding that the AO was not justified in making the addition towards the so-called unverifiable and unvouched business expenses. 4. On the facts and in the circumstances of the case, the Ld. CIT(A) further erred in deleting the addition of Rs.84,000/- made on account of house hold expenses holding that the addition on estimate and hypothetical basis cannot survive in the eyes of law. 5. That the appellant craves leave to add or amend the groun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Act. 5. We have heard the rival contentions and perused the facts of the case. From the perusal of the claim of the assessee as is evident from PB-1 II being the statement of total income for the impugned year, the assessee had sold the residential house/flat at Vasant Kunj, New Delhi for Rs.30 lacs on which the assessee had computed long term gain of Rs.20,20,615/-. The assessee had purchased a house amounting to Rs.22,78,640/- which is a residential house and the capital gain has been claimed to be exempt u/s 54F of the Act. It appears that the ld. CIT(A) has ignored the findings of the AO as well as the claim of the assessee as is evident from the statement of total income at PB-1 II mentioned hereinabove. Under section 54 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... revenue are allowed for statistical purposes. 6. As regards ground No.3, the AO made a trading addition of Rs.250030/- being difference between sundry debtors and the sales. 6.1. The Ld. CIT(A) deleted the addition vide para 8 of his order for the reasons that the assessee had submitted the explanation before the A.O. which have not been considered. Moreover, the AO has not rejected the books of account. The assessee has filed the copies of account of all trade creditors to the AO and the AO by issuing notices u/s 133(6) has confirmed the trade creditors and therefore, genuineness of the trade creditors could not be under doubt. Therefore, the AO was not justified in making the trading addition of Rs.250030/- towards difference between ..... X X X X Extracts X X X X X X X X Extracts X X X X
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