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2018 (11) TMI 1177 - HC - Income TaxPeak credit addition - Held that:- The assessee-appellant was unable to satisfactorily explain the source of ₹ 14,73,000/-, which was added on account of peak addition, no error could be pointed out in the impugned orders which may warrant interference by this Court. Thus, question No.1 does not arise. Addition on account of net profit @ 5% of the total amount of cash deposits to the CIT(A) - Held that:- Tribunal had recorded that from the order passed by the CIT(A), it appeared that the said issue was taken by the assessee in the grounds of appeal before the CIT(A), however, neither specific agitation was made by the assessee nor adjudicated by the CIT(A). The Tribunal had remitted the matter to the CIT (A) to decide the issue regarding the addition of ₹ 57,700/- made by the assessing Officer on account of net profit @ 5% on the total amount of cash deposits in the saving bank account of the assessee afresh on merits after affording proper opportunity of hearing to the assessee. Thus findings recorded by the Tribunal warrant no interference by this Court. - decided against assessee.
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