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TMI Blog2015 (11) TMI 1120X X X X Extracts X X X X X X X X Extracts X X X X ..... ntion of learned counsel for the assessee that even if the cash sales issue is presumed to be against the assessee, then also only net profit rate could be applied on such sales and that shall be covered by the amount of 2,00,000 surrendered already by the assessee and has been assessed by the Department. We find that the Assessing Officer in the computation of assessable income has accepted the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s consolidated order. I. T. (SS) A. No. 8/Agra/2012 (by the Revenue) : 2. The learned Departmental representative at the outset submitted that there is a delay of 20 days in filing the present appeal before the Tribunal and the delay was due to the Departmental difficulties. The same may, therefore, be condoned. Learned counsel for the assessee has no objection to the request of the learned Depa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tted that the Commissioner of Income-tax (Appeals) has passed a well reasoned and speaking order on the issue. He submitted that no unaccounted cash sales were made by the assessee and even if it is presumed that there was such sale, only the profit margin thereof could be added in the hands of the assessee. He submitted that the Commissioner of Income-tax (Appeals) has observed that the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which was surrendered by the assessee in its return of income. In these facts, we hold that there is no mistake in the order of the Commissioner of Income-tax (Appeals) in deleting the addition of ₹ 7,50,000 on account of undisclosed cash sales and therefore, the ground of appeal of the Revenue is dismissed. C. O. No. 57/Agra/2012 (by the assessee) : 6. In view of our decision dismissing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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