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TMI Blog2019 (2) TMI 984X X X X Extracts X X X X X X X X Extracts X X X X ..... essee, therefore, taking into consideration the overall facts and circumstances of this peculiar case, Gross profit rate of 10% of the undisclosed turnover should be taken as the undisclosed income of the assessee and that amount has only to be taxed. The impugned order of CIT(A) is set aside on tis issue and the AO is directed to compute the gross profit as directed above. Appeal of assessee is partly allowed - I.T.A. No. 79/Kol/2016 - - - Dated:- 12-12-2018 - Shri A. T. Varkey, JM Shri M. Balaganesh, AM For the Appellant : Shri Subash Agarwal, Advocate For the Respondent : Shri Sankar Halder, JCIT, Sr. DR ORDER PER SHRI A.T.VARKEY, JM This appeal preferred by the assessee is against the order of the Ld. CIT(A)-13, Kolkata dated 20.11.2015 for AY 2011-12. The following revised grounds have been assailed by the assessee in this appeal: 1. For that the Ld. CIT(A) was not justified in confirming the addition of ₹ 35,99,000/- made by the AO on account of alleged unexplained cash deposits in Bank Account No. 01630110010983 and 01630100575160. 2. For that the Ld. CIT(A) was not justified in confirming the addition of ₹ 7,25,000/- made ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the personal cattle shed of the assessee. Thereafter, the assessee filed 7 affidavits including that of her (the assessee), her husband, son and others. From the copy of the affidavit sworn in on 10.09.2013 by the assessee the AO observed that in para-l0 of the affidavit the assessee has affirmed that she had sold 9 cows for ₹ 4,49,500/- and 5 Buffaloes for ₹ 31,49,000/- aggregating to ₹ 35,99,000/-. The AO noted that no details regarding such sale including the date of such sale was furnished. From a perusal of the affidavit the AO observed that each cows were sold at ₹ 49,944/- and each buffalos were sold at ₹ 6,29,800/-. The AO asked the following queries to the assessee, 1) reason for sale of cows and buffalos, (2) why the cows and buffalos sold at a remote market (as affirmed in the affidavit) and not in the market nearer to her locality and (3) whether such sale of cows and buffalos were effected in any previous years and succeeding year. In reply to the first query, the Ld. AR submitted that the cows and buffaloes as stated in the Affidavit, were sold since those (cows and buffaloes) were not yielding milk. As to the second query as to the plac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... accounts from undisclosed source and added it to the returned income of the assessee. 5. In respect of unexplained cash deposit of ₹ 7,25,000 - into Bank the AO issued notice u/s. 142(1) dated 12/08/2013 the assessee wherein the assessee was asked to furnish details narration of deposits (mentioning source) in her Bank A/c. No. 01630100023996 maintained with UCO Bank, Dum Dum Branch. Assessee was also asked vide notice referred to above to furnish month-wise sale of sweets during financial year 2010-11. The AR in his reply stated that cash deposits in A/c. No. 01630100023996 represented deposits arising out of business cash surplus. As to the monthly sale of the business the Ld. A/R furnished the following figures which are reproduced below:- April, 2010 May, 2010 June, 2010 July, 2010 August, 2010 September, 2010 October, 2010 November, 2010 December, 2010 January, 2011 February, 2011 March, 2011 Total: Rs.2,22,900/- Rs.2,12,600/- Rs.2,18,600/- Rs.2,13,200/- Rs.2,18,800/- Rs.2,19,300/- Rs.3,24,600/- Rs.2,21,800/- Rs.2,1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mittently deposited to Bank cannot be accepted because, according to AO, had the cash been intermittently deposited into Bank, there should have been few more credit entries in the Bank Statement. So, the explanation of the assessee as to source of cash deposits of ₹ 7,25,000/- was not accepted by the AO and the same was, therefore, considered as from unexplained source and was added to the returned income of the assessee. 6. Aggrieved against the aforesaid addition made by the AO, the assessee preferred an appeal before the Ld. CIT(A) who confirmed the action of AO. Aggrieved, assessee is in appeal before us. 7. We have heard rival submissions and gone through the facts and circumstances of the case. The facts stated above are not repeated for the sake of brevity. The AO noted that the assessee had maintained three bank accounts with UCO Bank, Dum Dum Branch in the joint names of her husband as well as that of her son. In the bank accounts the amounts deposited/withdrawn is not disputed. The assessee when confronted with these deposits in the account said that her income was from a small sweet shop and has been offered to tax. And in respect to the deposits in the bank ..... X X X X Extracts X X X X X X X X Extracts X X X X
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