TaxTMI 
TaxTMI 
2015 (2) TMI 490
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....y of Audit report, reply to the questionnaire and produce complete books of account, bills and vouchers. 2. On the facts and circumstances whether the Ld. CIT(A) was right in deleting the addition made on account of net profit rate applied when the ex-parte assessment was made on the basis of material evidence available on record and inquiries made. 3. On the facts and circumstances whether the Ld. CIT(A) was right in not appreciating the fact that the return of income filed by the assessee is a paperless return and no P & L account & Balance sheet were enclosed with the return of income from which the gross receipts shown by the assessee can be determined. Only TDS certificates were enclosed with the return of income. 4. The appellant c....
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....ls worked out by the AO are with regard to purchases and not sales where the tax has been collected and Form -27D is on record and not Form -16A. It was submitted before the ld. CIT(A) that the sales are to the tune of Rs. 2,93,77,071/-, which includes sales of liquor business of Rs. 36,01,644/- and receipts from construction business of Rs. 2,57,75,427/-. He has also reconciled the purchase as per tax collection certificate which has been reflected in the purchases. 4. The Ld. CIT(A) deleted the addition vide paras 4.5 & 4.6 of his order and the relevant findings in the said paras are reproduced for the sake of convenience: "4.5. The AO has determined gross receipt of the assessee at Rs. 2,87,40,171/- and applied a rate of 12% to arrive ....
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.... respond to his notice during the assessment proceedings. On the other hand, the appellant submitted that the statement was not provided to the appellant for rebuttal, the appellant has questioned that AO himself arrived that the amount received from M/s. Ericson India Pvt. Ltd. was Rs. 13,87,501+Rs.18,05,592 + Rs. 31.92,644/- then how he arrived at the receipt figure of Rs. 44,46,814/-. The appellant has stated that the receipt from M/s. Ericson India Pvt. Ltd. amounting to Rs. 31,92,644/- is the part of total turnover declared by the appellant in the P & L account amount at Rs. 2,57,75,427/-. I find force and logic in the submission of the appellant. The intimation collected by the A.O. has not been confronted therefore, any interference ....
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....r certificate available on record, which in fact, has been treated by the AO as per TDS certificate. But in fact, they were certificates in form 27D for the tax collected and meant for purchases and not for sales. This is the prime mistake which has been done by the AO while framing the assessment. As per TDS certificates, the total receipts from construction has been submitted to be at Rs. 2,57,75,427/- and sale of liquor business at Rs. 36,01,644/-, totaling receipts to Rs. 2,93,77,071/-, which has been reflected by the assessee in his books of account in the profit & loss account. The amount of Rs. 29,76,588/- has been reflected as purchases against tax collection certificate in Form-27D has also been explained by the assessee before the....