TMI Blog2018 (12) TMI 1909X X X X Extracts X X X X X X X X Extracts X X X X ..... ase of liquor are sufficient to prove the genuineness. In this view of the matter, we hold that the ld. CIT(A) was not justified in confirming the rejection of the books of account and adopting the G.P. rate on the higher side - Decided in favour of assessee. Addition u/s 68 - Deposit by one of the members of the assessee AOP - one new member had introduced capital in cash - CIT(A) upheld the addition by holding that PAN, address and assessment particulars were not furnished before the Assessing Officer - HELD THAT:- As we find that copy of confirmation of account along with the copy of ITRs from assessment year 2008-09 to assessment year 2013-14 are placed. CIT(A) was not justified in confirming the addition made by the Assessing Offi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of account and the accounts were audited u/s 44AB of the Act and no adverse comments regarding books of account have been given by the Chartered Accountant. It was submitted that the Assessing Officer has invoked the provisions of section 145(3) mainly for the reason that there was a possibility of suppression of sales. It was submitted that no separate cash memos were issued for each and every sale but consolidated entry was being made in cash book after close of the day and this practice was not new and it was being accepted by the Department for several years. It was submitted that in assessee s own case for assessment year 2011-12 in I.T.A. No.741/Lkw/2016 dated 24/08/2018, the Tribunal has decided this issue in favour of the assessee a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ld that cash book, ledger and other documents including purchase bills and TCS certificates were filed before the Assessing Officer and during the year under consideration, I find that Assessing Officer has completed the assessment u/s 143(3) and in para 2 of his order has noted that assessee had filed from time to time the required details and explanations and he has examined the same. I find that in assessment year 2011-12 in I.T.A. No.741/Lkw/2016 the Hon'ble Tribunal vide order dated 24/08/2018 had decided the similar issue in favour of the assessee by holding as under: 9. Now coming to ITA No.741/Lkw/2016, we find that the Assessing Officer in this case observed that gross profit rate has come down 11.60% from 12.34% and there ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iquor trade, it was the normal practice of not issuing bills for every sale and sales are recorded on the basis of daily statements. The Assessing Officer has not pointed out any discrepancy in the quantitative details of purchase or sales. It is also the case of the assessee that sale price is displayed at the shop and there cannot be any variance in the price so displayed. The purchases made by the assessee were even duly supported by proper vouchers and regulated by the Excise Authorities and payment of liquor is through Government on the basis of auction conducted by the Government. The nature of assessee s business is such that it cannot maintain proper sale bills. Therefore, it was held by the Co-ordinate ITAT Bench that merely becaus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ger were with the Department. The purchase bills along with TCS certificates were also produced. The selling price was also displayed in front of every shop of the assessee. All the purchases are done by the assessee on the basis of license fees and TCS certificates, which were also not disputed by the Department. It is also the prevailing practice all over the country that no cash memo is issued for day-today sales and as submitted by the assessee, two Model Shops do not have any sitting area attached with the shops. Neither the Assessing Officer nor the ld. CIT(A) has conducted any independent enquiry regarding the same and just on the basis of guess work has observed that assessee is not bringing out full particulars. Even the judicial p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mated this year also @ 12.5%. The difference in the declared G.P. and estimated G.P. comes to ₹ 13,55,715/-. This profit will be added in the income of the assessee owing to the reasons narrated above. The reasons for rejection of books of account are same as in I.T.A. No.741 for assessment year 2011-12, therefore, respectfully following the judicial precedents in the case of the assessee itself, the first issue is decided in favour of the assessee. 5.1 Now coming to second issue of deposit of ₹ 10,00,00/- by one of the members of the assessee AOP, I find that during the course of assessment proceedings the Assessing Officer observed that one new member Smt. Shakuntala Jaiswal had introduced capital of ₹ 10,00,00/ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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