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TMI Blog2018 (11) TMI 1177X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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. - ITA-181-2018 - - - Dated:- 25-10-2018 - MR AJAY KUMAR MITTAL AND MR AVNEESH JHINGAN, JJ. For The Appellant : Mr. Maninder Arora, Advocate ORDER AJAY KUMAR MITTAL, J. 1. This appeal has been preferred by the assessee under Section 260A of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see ₹ 14,73,000/- and after making the addition of ₹ 57,700/- by estimating the net profit @ 5% on the total amount of cash deposited by treating the same as turnover and the income returned of ₹ 1,43,850/- framed the assessment at ₹ 16,74,550/-. Feeling aggrieved by the said order, the assessee filed an appeal before the Commissioner of Income Tax (Appeals) [for brevity the CIT(A) ]. The CIT(A) vide order dated 26.8.2015 (Annexure A-2) dismissed the appeal. Still dissatisfied, the assessee filed an appeal before the Tribunal who vide order dated 30.11.2017 (Annexure A-3) partly allowed the appeal and remanded the matter back to the CIT(A) to adjudicate ground No.4, i.e., 'That Ld. CIT(A) erred on facts and law ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... total amount of cash deposited in both the accounts works at ₹ 35,31,000/-. It may be mentioned here that there are certain cash withdrawal below ₹ 10,000/-, but the same have not been taken into account while working out peak credit on the presumption that the same withdrawals relates day-to-day expenses of business. 6. During the appellate proceedings before the CIT(A), the assessee-appellant pleaded that cash deposits in bank accounts were on the basis of availability of funds with his mother Smt. Satya Devi on account of sale of portion of immovable property on 16.1.2008. According to him, the said property was sold for ₹ 56,50,000/- and the cash deposits were made by him from the said amount. The said ground wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt of net profit @ 5% of the total amount of cash deposits in the saving bank account of the assessee, it may be noticed that the 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 relevant findings recorded by the Tribunal in this regard read thus:- From the order passed by the Ld. CIT(A), we realize that although the assessee had raised the ground before the Ld. CIT(A) with regard to ground No.4 herein, however, from the order passed by the Ld. CIT(A), it appears that the said issue was taken by the assessee in the grounds of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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