SH. SHOBHA RAM SHARMA,MATHURA vs. DCIT.-3, MATHURA

This assessee’s appeal for assessment year 2014-15, arises against the Commissioner of Income Tax (Appeals)-1 [in short, the “CIT(A)”], Agra’s order dated 28.02.2018, passed in case no. ITBA 79/(e-filed)/CIT(A)-1/Agra/DCI-C-3/Mathura/2016-17 involving proceedings under section 143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).

It emerges during the course of hearing that both the learned authorities have, more particularly, the Assessing Officer’s assessment dated 26.12.2016; disallowed/added an aggregate amount of Rs.25,18,014/-; involving the alleged miscellaneous expenses of Rs.50,000/-, repair and maintenances expenses of Rs. 50,000/-, labour expenses of Rs.23,68,014/- and vehicle running expenses of Rs. 50,000/- on estimation basis, respectively.

We have given out thoughtful consideration to the assessee and Revenue’s vehement rival submissions and find no reason to concur with either party’s arguments in entirety. We make it clear that this assessee is a civil contractor having declared gross receipts of Rs.26,45,86,902/- yielding NP @ 5.84%; coming to Rs.1,54,72,360/-. And also, that he has neither been able to plead and prove all the impugned four expenditure items to the entire satisfaction of the learned lower authorities nor the latter have found any specific shortcoming(s) in the corresponding books of account.