ORDER NASIM SIKANDAR, JUDICIAL MEMBER. - This further appeal by an individual assails an by A.A.C.
Range-I.' Multan on 23.11.1991.
2. The assesses in this case is an individual who deals in nylon ropes etc. For the assessment year 1990-91 import sales were disclosed at Rs.28.45,000/- and local sales at Rs.3,10,000/-The rates in these accounts respectively were inducted at 7.36% and 15%. The assessee failed to establish even imports sales as according to the documents produced there amounted to Rs.27.85,550/-. The declared version was accordingly rejected and sales in import account estimated at Rs.29,00.000/- and the local rates at Rs.4.00.000/-. After making adjustment in P&L account total income was assessed at Rs. 1,71.050/- as against returned at Rs.57,999/-. Learned first appellate authority A.A.C. Multan, Range confirmed the sales estimated in both of the accounts as well as and the rate applied at 10% in import account. This has grieved the assessee.
3. Parties have been heard. The complaint of the assessee against rejection of declared version in both of the accounts is not well barred. The assessee admittedly failed to substantiate the import as well as the total unless as indicated above. Therefore, no exceptions can possibly be taken to this aspect of the assessm ent as well as first appellate order. Moreover, we find that the estimates made by the assessing officer are some what on the higher side. Accordingly it is directed that import sales shall be restricted to Rs.28.50.000/- and local sales to Rs.3.25,000/-. The disclosed rate in case of local sales having been accepted, no interfere in this regard is required. The applied rate at 10% in import account appears reasonable in absence of any parallel case cited or relied upon by the assessee.
4. The disallowances in P&L account also appear reasonable tis the assessee has not thrown a serious challenge to the observations made by the assessing officer. These shall accordingly stand confirmed.
5. The appeal succeeds only to the extent of reduction in estimation of sales as ruled above.