TMI Blog2012 (3) TMI 478X X X X Extracts X X X X X X X X Extracts X X X X ..... nt of suppression of liquor sale. 2. The facts of the case are that the assessee is a private limited company having business of running of dance bars, liquor and food sale, hotels and construction and development of property. There was a search and seizure operation u/s.132 of the I.T.Act, 1961 on 23.1.2004 on the business premises of the assessee. In the assessment proceedings u/s. 153A consequent to search, the AO held that the assessee had been suppressing income from the business activities by declaring suppressed pack up income and liquor sales and by not showing entertainment income from assessment years 1998-99 to 2004-05. The AO, on the basis of working for assessment year 2004-05, worked out pack up income for the current yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d 2 halls were closed for renovation. The sales of food liquor were billed from the company and taken to the books of account and the money received as tips to the dance artists were shared by the performing artists on the stage and the company in the ratio of 70:30. 6. The AR thrust his arguments on the fact that the dance activity during the current year was not on full swing as two of its halls were under renovation. He invited our attention to the chart showing the repair activity carried over by the assessee and pointed out that in the current assessment year, there was a major repair activity which amounted to ₹ 17.79 lakhs as compared to certain minor repairs in the preceding years. The AR pointed out that the assessee had b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the orders, we find that the assessee, in 2004-05 and in earlier period could not provide the actual collection details nor was it able to provide any estimate of the collections. In those circumstances, the revenue authorities and even the coordinate Bench were forced to go into estimating pack up collections. But in the current year, which is the period of regular assessment and where the assessee has provided not only regular books but have provided audited account, in these circumstances, we have to take into account the actual results of the assessee, unless they are otherwise proved to be incorrect. 9. During the course of hearing, the AR, after bringing all the facts to the knowledge of the Bench, referred to the decisions of Eve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rein, in para 13, it has been observed as under: Coming to the addition on account of liquor sales, we find that the assessing officer took the rates mentioned in a menu card which was higher than the rates specified in the bill and made an addition of the difference. In or considered opinion, this addition is not well founded. The undisputed fact is that the bills that were available were made out at the rates which were mentioned in a menu card which was having lesser rates. The assessee explained that a particular section of the hotel was closed and that this menu card with higher rates was used in that particular section is a plausible explanation. As the only evidence found by the revenue is a menu card which has rates higher than ..... X X X X Extracts X X X X X X X X Extracts X X X X
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