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2013 (12) TMI 772 - AT - Income TaxSuppression of commission income - Held that:- The assessee had declared gross commission income for RTO liaison work - No details related to such commission incomewere furnished before the Assessing Officer - The Assessing Officer was justified in estimating the income but such estimation appears to be on the higher side - The assessee had filed the return for the first time in response to notice u/s.153A(a) declaring income of Rs.66,520/- which includes Rs.20,850/- commission for RTO liaison work - The estimation has been restricted to Rs. 24000/- - Partly allowed in favour of assessee. Opening cash balance - Held that:- The opening balance of Rs.5,51,321/- also consisted of cash of Rs.1,25,726 - The appellant has not given any evidence to the effect that this cash actually has been brought forward from the earlier year - This cash has surfaced in the period relevant for A.Y. 2002- 03 for the first time - Cash represents unexplained income of the appellant for A.Y. 2002-03 - The addition of Rs.1,80,750/- on account of opening balance is restricted to Rs.1,25,726 - Partly allowed in favour of assessee. Unexplained investment - Held that:- The assessee has deposit of Rs. 10,000 in Mahesh Sahakari Bank - In view of the addition of commission income and cash available the addition should not be made - Decided in favour of assessee.
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