TMI Blog2005 (11) TMI 514X X X X Extracts X X X X X X X X Extracts X X X X ..... filed by the assessee against the CIT(A) order dated 31-5-2004 on the following effective ground :- That the order of the learned CIT(A) is bad in law and on the facts inasmuch as he has confirmed the addition of ₹ 3.00 lacs made by the learned Assessing Officer presuming to the difference between the cost of 750 H.P., Electric Motor estimated at ₹ 3.50 lacs by the learned Assessi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the assessee difference of amount of the estimate of the Assessing Officer at ₹ 3,50,000 and the cost price at ₹ 50,000 recorded by the assessee in the books of account. The said Mr. Ravinder Kumar Sharma was again cross-examined by the counsel of the assessee in the set aside re-assessment proceedings. The learned CIT(A), in appeal, confirmed the action of the Assessing Officer, N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9400 dated 28-6-1986. Therefore, Authorised Representative argued that Assessing Officer was not justified in making the addition only on the basis of suspicion, conjecture and surmises. Learned Departmental Representative on the other hand relied on the orders of the authorities below. 5. After giving careful consideration to the rival submissions, order of the authorities below, evidence and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . and of second hand quality, which could have easily done by him. Apart from this, Assessing Officer has also not brought any material on record that such motor was purchased at the cost of ₹ 3,50,000 and any amount over and above ₹ 50,000 has been paid by the assessee to the seller of the motor. Therefore, in the light of this discussion merely on the statement of the seller of the m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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