TMI Blog2015 (10) TMI 1622X X X X Extracts X X X X X X X X Extracts X X X X ..... jecting the books of accounts of the assessee as an afterthought and the CIT (A) was not justified in confirming the same. We therefore set aside the orders of the lower authorities and remand the matter back to the file of the Assessing Officer and direct him to decide the issue afresh after examining the books of accounts and related documents as per law. - Decided in favour of assessee for statistical purposes. - ITA No. 2997/Ahd/2011 - - - Dated:- 19-6-2015 - N S Saini, AM And S S Godara, JM,JJ. For the Appellant : None For the Respondent : Mr Dinesh Singh, Sr DR ORDER Per: N S Saini, Accountant Member This an appeal filed by the assessee against order of the CIT (A)-IV, Surat, dated 12-7-2011. for Assessment Y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... maintain books as he had income from salary, interest and share of profit only whereas after discovery of bank account and issue of show cause, books of accounts showing cash sales and purchases were produced which could be nothing but an afterthought. The assessee had not mentioned the existence of any agricultural income in the return or trading in agricultural products till the issue of show cause. The books produced showed sales made on all 365 days from September to January, there were deposits in the bank account of ₹ 7,79,000/- with negligible withdrawals of ₹ 2,000/- which shows that the business was not genuine. A.O. therefore, held that the assessee failed to provide explanation about the source and nature of deposit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /s. 69A is upheld. However, the CIT (A) deleted the addition on account of estimate of profit of ₹ 87,273/- treating the deposits as turnover because the existence of business was not accepted by the A.O. while making the addition on account of peak credit. 5. Before us, assessee filed an adjournment application seeking adjournment of the hearing fixed on the ground that A.R. of the assessee was out of station and it was not possible to represent the case for him. 6. We find that the reason given in the adjournment application by the assessee is not plausible and therefore, the adjournment was rejected and the appeal was heard ex-parte qua the assessee and disposed of after considering the submissions of the Departmental Represe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sale and purchase of food-grain in the market yard and that the assessee under the impression that this was agricultural income and exempt from tax had not disclosed the same in the return of income. The Assessing Officer did not accept the explanation by observing that it was an afterthought. 11. On appeal, the CIT (A) confirmed the action of the Assessing Officer. 12. In the above facts and circumstances, we are of the considered opinion that the Assessing Officer was not justified in rejecting the explanation of the assessee who had presented the books of accounts showing the receipts of undisclosed bank account from sale of foodgrain merely on the ground that it being an afterthought. It was incumbent upon the Assessing Officer to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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