SAJDA PARVEEN Vs. ASSISTANT COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE instant appeal under S. 260A of the IT Act, 1961 (for short referred to as "IT Act") is directed against the order dt. 16th Aug., 2005 passed by the Income-tax Appellate Tribunal, Jabalpur Bench, Jabalpur (hereinafter referred as "Tribunal") in ITA No. 420/Jab/1999, asst. yr. 1994-95.

(2.) THE appeal was admitted on the following questions of law :

(3.) THE brother of the assessee attended the proceedings and filed written submission as also the trading account, P&L a/c and balance-sheet, copies of bank accounts were also filed. Further, it was stated that the assessee has not maintained record. For the purpose of explaining the expenditure, assessee has merely produced receipts for salary etc. The assessee has shown his income from house property and also form business of Tendu Patta as well as from business of truck operation. The assessee had shown an income of Rs. 71,121 from business of Tendu Patta done with the proprietary concern M/s Tarique Brother. The total sales was indicated to the tune of Rs. 34,55,160. The assessee has estimated a gross profit of 5 per cent on net sales and after debiting from the same, the interest paid to various parties, which was not shown from the accounts maintained by the assessee.