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2022 (8) TMI 1369 - ITAT SURATUnaccounted job receipts - addition of 20% - CIT Restricted addition being profit @ 5% - AO was of the view that on comparison of the parties which are common in the books and data recovered from the computer back up, the job work done is very higher than job work reflected in the books of account - HELD THAT:- It is settled law under the income tax proceeding that only income component is to be taxed and not the substantial part of the transaction. Considering the fact that the ld CIT(A) has already granted substantial relief to the assessee and directed to tax only to the extent of 5% of Rs. 2.589 Crore. In our view the ld CIT(A) has already granted substantial relief to the assessee, which we affirm. Hence, no merit in further reducing the addition which has already been reduced substantially by the ld. CIT(A). No justifiable reason to given further relief to the assessee. Appeal of assessee is dismissed.
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