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2015 (7) TMI 1056 - ITAT LUCKNOW

2015 (7) TMI 1056 - ITAT LUCKNOW - TMI - Addition on account of Bank Interest and Charges, Interest on FDR and Figures of credit in P/L Account - enhancement of income by CIT(A) - Held that:- We find that it is stated by the assessee before CIT (A) that the books were lost when the same were being taken to the place of the counsel of the assessee for preparation of appeal. Copy of FIR is also filed before CIT (A). We feel that under these facts, the assessee was not in a position to bring necess .....

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014 - Dated:- 30-7-2015 - SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER And SHRI A.K. GARODIA, ACCOUNTANT MEMBER For the Appellant : Shri Yogesh Agarwal, Advocate For the Respondent : Shri Harish Gidwani, Sr. DR ORDER PER A. K. GARODIA, A.M. This is assessee s appeal directed against the order of Learned CIT (A) - II, Kanpur Dated 30.09.2014 for A. Y. 2010 - 11. 2. The assessee has raised as many as 7 grounds but the grievances of the assessee are only two. First grievance is about confirming of the a .....

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ned income of ₹ 266,880/-. He also submitted that even after rejecting the books u/s 145 (3) and estimating business income by applying net profit rate, the A.O. also made these three additions of ₹ 11,844/- on account of Bank Interest and Charges, ₹ 134,703/- on account of Interest on FDR and ₹ 10,047/- on account of Figures of credit in P/L Account. He submitted that the assessee carried the matter in appeal before CIT (A) but later on after loss of books, it was submit .....

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