TMI Blog2016 (9) TMI 903X X X X Extracts X X X X X X X X Extracts X X X X ..... For The Assessee : -None- For The Revenue : Smt. G. Aparna Rao ORDER This appeal by the assessee is directed against the order passed by the CIT(A)-IV, Hyderabad. When it was last posted for hearing on 23.03.2016 the assessee s Counsel filed an application dated 23.03.2016 requesting for adjournment on the ground that the Senior Partner was out of town in an emergency situation. Accordingly, the case was adjourned to 20th June, 2016 and the date of hearing was announced in the open Court. However, on the said date none appeared on behalf of the assessee. I, therefore, proceed to dispose of the appeal ex-parte qua the assessee. 2. The following grounds were urged in the grounds of appeal : 1. That the assessing O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under taken. If a person's bank account shows that deposits are made at local place of his residence then it may raise doubt that whether business was done or not but in instant case deposits were made at various locations of erstwhile Andhra Pradesh, giving ample proof that some business activity was done. 10. Even if the Assessing Officer was so particular about addition then he should have considered after withdrawals made during the year. Thus addition made in the way was unwarranted. 11. Any other ground with the permission of the chair. 3. Though the assessee filed paper book, since no one was present to refer to the specific papers in the paper book, as per Rule 18(6) of the Appellate Tribunal Rules, the paper ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2008-09. During the assessment proceedings it was explained that the amounts deposited in the bank account represented sales proceeds of business relating to nuts and bolts. As no books of accounts were maintained, the assessment was completed by adding the estimated income of nuts and bolts business at 10%. However, no information was brought on record in support of the contention that the amounts deposited in the bank account related to the turnover of nuts and bolts business. Necessary document viz. VAT returns, purchase bills and sale bills etc. were not called for by the A.O. and enquiry was not made with regard to the claim of nuts and bolts business. 1.2. Thus, in the absence of necessary supporting evidence, the entire amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT(A), it was submitted that copy of bank account is self evident that the amount was deposited at various locations like Guntur, Kothapeta, Chitradura, Karimnagar, Nanded, Chittoor etc., which proves some business transactions are there and entire amount do not constitute income. It was also submitted that a trader might earn 5% on sales but not a commission agent like the assessee. However, she agreed for the addition at 10% just to buy peace from the department. 9. Ld. CIT(A) observed that there is no evidence to prove that assessee was engaged in business of purchase and sale of nuts and bolts whereas there were sufficient deposits in the bank account. Since assessee could not prove the source of this amount the Assessing Officer w ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
