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ITA No. 161/CT K/ 2015 Asse ssment Year : 20 08- 09

4. At the time of hearing, ld Authorised Representative of the assessee did not press ground taken for disallowance of depreciation of Rs.31,302/- and hence, the same is dismissed for want of prosecution. 4.1 With regard to disallowance of Rs.2 lakhs under the head "Oil & fuel and repair and maintenance account, the undisputed facts are that the Assessing Officer found that the turnover of the assessee has decreased from Rs.3,40,64,079/- to Rs.1,05,14,440/- i.e. by 65%. He observed that the expenses have increased substantially in respect of oil & fuel and repair & maintenance by 353% and 239% respectively. The Assessing Officer observed that the ledger accounts contain only dates and amounts without any narration regarding the nature and purpose of cash payments. No reference in the ledger has been given with cash book entry or to the bills & vouchers. The assessee could produce only few bills and vouchers during the course of assessment proceedings. Hence, he held that the assessee failed to establish the correctness and genuineness of transaction in respect of oil and fuel and repair & maintenance and, therefore, disallowed Rs.1 lakh each under the heads Oil & fuel and repair & maintenance aggregating to Rs.2 lakhs on estimate basis.