TMI Blog2016 (1) TMI 1190X X X X Extracts X X X X X X X X Extracts X X X X ..... ENA,AM SHRI LALIET KUMAR, JM Revenue by : Shri O.P. Bhateja, Addl. CIT Assessee by : Shri Nikhlesh Kataraia, CA ORDER PER LALIET KUMAR, JM This is an appeal filed by the Revenue against the order of the ld. CIT(A), Ajmer dated 02-01-2012 for the assessment year 2004-05 wherein the only grievance of the Revenue is that the ld. CIT(A) has restricted the addition to ₹ 3,52,325/- out of addition of ₹ 35,23,329/- made by the AO u/s 69A of the I.T. Act, 1961 on account of unexplained deposited in the saving bank account with IDBI by applying gross profit rate of 10%. 2.1 Brief facts of the case are that the assessee filed the return declaring income of ₹ 1,03,760 on 6-10-2004. On the basis of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to give credit of this amount. Ground No. 1 is thus partly allowed. 2.3 During the course of hearing, the ld. DR vehemently relied on the order of the AO. 2.4 The ld. AR of the relied on the order ld. CIT(A) and also filed the decisions of Coordinate Bench in the case of ITO vs. Smt. Anita Choudhary (ITA No. 733/JP/2009 dated 7-05-2010 for the assessment year 2005-06 and ITO vs. Shri Pushpendra Kumar Jain (ITA No. 250/JP/2010 dated 10-12-2010 for the assessment year 2005-06) praying therein to dismiss the appeal of the Department, 2.5 We have heard the rival contentions and perused the materials available on record. We have observed that the ld. CIT(A) has taken into consideration the decision of Coordinate Bench in the case of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... count have been utilized elsewhere. In case the amounts have been deposited by the assessee in the bank account then Revenue is required to consider the availability of such deposits from the withdrawals made from such bank account. It is true that the assessee has not been able to give the required details because such details have not been kept by the assessee. Under such circumstances, one has to consider the totality of the circumstances and accordingly one will have to consider income portion from the turnover as mentioned in the bank account. It is an accepted position that the assessee is doing the business in marble and the assessee is not having any other source of income. Once the assessee has offered an explanation and the Revenu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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