TMI Blog2011 (8) TMI 1134X X X X Extracts X X X X X X X X Extracts X X X X ..... t orders of the ld. CIT(A), Alwar dated 11-01-2010 for the assessment years 2005-06 and 2006-07. 2. First of all, we take up the appeal of the assessee for A.Y. 2005-06. 2.1 The first ground of appeal of the assessee is that the ld. CIT(A) has erred in estimating the income at ₹ 11,36,584/- against declared income of ₹ 3,12,259/- by applying the net profit rate @ 5% against the d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of following expenses debited. (a) .Miscellaneous (b) Accounting Charges (c) Telephone expenses (d) Staff welfare expenses (e) Office expenses (4) The AO further noticed that all the expenses have been incurred in cash. The AO accordingly rejected the books of accounts and applied the net profit rate of 7% on the receipts shown by the assessee. 2.3 The ld. CIT(A) held that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecause the transportation receipts in this case are of the same level. Further it was submitted that the transportation receipts also included the transportation receipts from four own trucks and if that income is considered then net profit rate will be at 2.11%. However, there is no evidence to suggest that transportation receipts included the transportation receipts from own trucks. In case the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dded separately the addition on account of inadequate withdrawals. Hence the addition on account of inadequate withdrawals stands covered by the trading addition confirmed and hence no separate addition of ₹ 40,000/- is required to be made. 4.0 Now we will take up the appeal of the assessee for A.Y.2006-07. 4.1 The first ground of appeal of the assessee is that the ld. CIT(A) has erred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... account of inadequate withdrawals. No separate addition has been made on account of inadequate withdrawals. The inadequate withdrawals have been considered at ₹ 26,938/- because the AO estimated house hold expenses at ₹ 1.44 lacs against withdrawals of ₹ 1,17,062/. No separate addition has been made either by AO or by the ld. CIT(A). Since we had already confirmed the part of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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