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TMI Blog2019 (11) TMI 706X X X X Extracts X X X X X X X X Extracts X X X X ..... eal, net profit rate is 3.014%. Considering the non-cooperation from the side of the assessee and non-production of the books of account and that assessee declared net profit rate of 8.134% in subsequent assessment year, we are of the view that application of net profit rate of 12% by the authorities below is excessive and unreasonable. Therefore, considering the history of the assessee, we direct the A.O. to apply net profit rate of 8% against the total turnover and made addition accordingly. Unexplained cash credit - The assessee stated that these are the amounts which were received from M/s. Om Track Builders and M/s. Shiv Ram Construction. The assessee also submitted before the Ld. CIT(A) that these amounts were security release ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2.2016, for the A.Y. 2011-2012. 2. Brief facts of the case are that return declaring income of ₹ 6,11,170/- was filed on 13.09.2011. The assessee derives income from contract work. During the course of assessment proceedings, the A.O. asked the assessee to produce complete books of accounts along with details/documents as per questionnaire issued by him. The A.O. also asked the assessee to furnish evidence with regard to cash deposits of ₹ 83 lakhs in savings bank account with Corporation Bank. The assessee failed to furnish the requisite details or produce books of accounts. The A.O. issued show cause notice as to why the income may not be estimated by taking net profit @ 12%. in spite of repeated opportunities ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the details of bank account of the assessee maintained with Corporation Bank. Panipat which revealed that there were cash deposits of ₹ 83 lakhs in this bank account on different dates during the financial year 2010-11. The A.O. asked the assessee to explain the sources of these bank deposits along with supporting documents. However, no explanation have been given, therefore, A.O. made the addition of ₹ 83 lakhs to the income of assessee. 5. The assessee challenged all the four additions before the Ld. CIT(A) and also filed application for admission of additional evidences under Rule 46A of I.T. Rules. Remand report of the same was called for from the A.O. The A.O. reiterated the facts stated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Representative of both the parties and perused the material available on record. 9. The appeal is time barred by 27 days. The assessee filed application for condonation of delay and it was submitted that son of assessee was suffering from brain tumor/cancer and was under treatment. He was his only son. Therefore, there was a delay in filing the appeal before the Tribunal. The application is supported by medical prescriptions. 10. Considering the rival submissions, we are of the view that it is a nominal delay and that explanation of assessee is supported by medical certificate. Therefore, delay in filing the appeal is condoned. 11. Learned Counsel for the Assessee reiterate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... present case, A.O. has passed the ex-parte assessment order Dated 06.01.2014 under section 144 of the I.T. Act, 1961. The A.O. has recorded on several pages of the assessment order in non-compliance by the assessee and about the production of the books of account and other details. Some part details were submitted which were not sufficient to explain any of the issues. The A.O, therefore, in the absence of any explanation from the side of the assessee, made all the four additions. It is an admitted fact that assessee did not produce books of account, bills and vouchers before the authorities below and even same are also not produced before the Tribunal. Therefore, rejection of books of account is justified in the matter. The A.O. while est ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ertaining to the contract business. Therefore, same could not be included in the total turnover for the purpose of application of net profit rate. These are in the nature of unexplained cash credit, which, assessee has not shown to the Revenue Department and has also not explained. Therefore, addition of ₹ 4,50,000/- is maintained. 16. The next ground is with respect to addition of ₹ 1,06,400/-. 17. The assessee merely contended that this amount was never received by him. However, A.O. found from Form 26AS downloaded from the system that assessee has received this amount of ₹ 1,06,400/- from M/s. Mukand Engg. Ltd. Assessee has not explained at all as to on what account the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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