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2016 (1) TMI 1190 - AT - Income TaxAddition u/s 69A - unexplained deposit in the saving bank account with IDBI by applying gross profit rate of 10% - Held that:- CIT(A) correctly directed to consider the total income of ₹ 35,23,249/- as undisclosed turnover of the appellant on which gross profit is estimated at 10%. AO is therefore, directed to restrict the addition accordingly. It is further observed that appellant in the revised return filed on 25-04- 2011 has declared additional income of ₹ 2,84,405/- in respect of transactions recorded in IDBI account. AO is directed to give credit of this amount.
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