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TMI Blog2013 (10) TMI 1184X X X X Extracts X X X X X X X X Extracts X X X X ..... as shown by the assesse on recorded sales at 11.2% and the Assessing Officer had adopted the same at 13% - This order of AO is confirmed. - Income Tax Appeal Defective No. - 113 of 2013 - - - Dated:- 24-10-2013 - Hon'ble Sunil Ambwani And Hon'ble Surya Prakash Kesarwani,JJ. For the Appellant : Shambhu Chopra ORDER The appeal is reported to be delayed by three days. The delay has bee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e course of survey u/s 133A of the Act. 2. Whether on the facts and in the circumstances of the case, the Hon'ble Tribunal was justified in not appreciating the fact that the assessee has not put forth any evidence to prove that at the time of statement he was physically and mentally unwell; basically it is an afterthought on the basis of which the assessee is retracting on statement made under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d, as the head of the family, Shri Satish Chand Gupta, who made surrender of income in his statement, was best conversant with the affairs of these businesses." We have gone through the orders passed by the A.O., CIT (A) and ITAT and find that the ITAT has confirmed the order of CIT (A) on the ground that the surrender made by the petitioner was retracted by filing an affidavit on the same day. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of gross profit shown by the assessee for the recorded sales. In most of the cases, the gross profit was shown by the assesse on recorded sales at 11.2% and the Assessing Officer had adopted the same at 13%. In this estimation, we find no infirmity. We, therefore, confirm the additions made on account of profit on undisclosed sales. Accordingly, the appeals of the Revenue as well as the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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