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2015 (8) TMI 1091 - AT - Income TaxEstimation of net profit - assessee did not produce the complete books of account and he filed an affidavit that there was a dispute with the accountant and he was not given the books of account. - Held that:- On verification of asset disclosed by the assessee, he has only Jeap. It appears that this computer owned by the somebody else, therefore, the claim of assessee that accountant had taken books of account appears to be false. Accordingly, we confirm the net profit @ 9% subject to third party interest and depreciation. The Assessing Officer is directed to verify this aspect from the past record whether the assessee’s net profit was assessed subject to interest and depreciation if otherwise found by the Assessing Officer no interest and depreciation will be allowable on the net profit decided by the Bench @ 9%. Accordingly, we confirm the order of the ld CIT(A). - Decided against revenue. Unaccounted cash deposited in the bank account - undisclosed income of the assessee - Held that:- On verification of the balance sheet of the assessee, it is found that bank account in SBBJ, Gangapur City, SBBJ, Sawai Madhopur and FDR with PNB, Gangapur City has been disclosed by the assessee. The ld CIT(A) has considered these bank accounts and no adverse inference has been drawn by him except the addition of ₹ 9,026/-. This Bench has confirmed the addition @ 9% C.P., therefore, no addition is required to be made on account of any discrepancy in the bank account. As held in the case of CIT Vs. G. K. Contractor (2009 (1) TMI 840 - RAJASTHAN HIGH COURT) wherein held that when net profit is estimated by the Assessing Officer by rejecting the book result U/s 145(3) of the Act, no separate addition can be made on account of cash creditor, which is squarely applicable in the case of the assessee. As we have already decided the net profit @ 9% in the case of assessee, therefore, other additions cannot be made. - Decided against revenue. FDR interest treated as income from other sources - Held that:- Undisputed fact revealed from the order of the ld CIT(A) and form No. 35 that this ground has not been raised before the ld CIT(A). Further before us, no application for additional ground has been made by the AR of the assessee. Therefore, this ground is not maintainable and we accordingly dismiss the same. - Decided against assessee.
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