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TMI Blog2018 (7) TMI 2143X X X X Extracts X X X X X X X X Extracts X X X X ..... by estimation of income on the remaining amount was inadvertently omitted. Thus there is a mistake to this extent in the order [ 2017 (1) TMI 1728 - ITAT MUMBAI] Now we direct the assessee to exclude the returned cheques/RTGS/inter bank transfers in assessee's bank account and assess the income by way of estimating the commission on the remaining amount after applying the decision of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubmissions and contentions of the counsel put before the bench during the course of hearing which were incorporated by the Tribunal in para 6 of the said order along with the decision of the coordinate bench in the case of Ramesh Kumar vs. ACIT in ITA No.3512 3513/M/2013 for A.Y. 2004-05 2005-06 dated 22.04.2015 wherein the net commission has been estimated at 0.10%. The Ld. Counsel submitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tted before the Bench that the ld.CIT(A) has enhanced the assessment by estimating the income at 1.5% of the total cash credit ent r ies in the book pas s books /s tatement s of the as sessee and hi s proprietary concerns. The Id. AR submitted that total cash credit entries as calculated by the AO at ₹ 1,82,65,69,168/- was not correct as the AO also included the various cheques/RTGS returned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cheques/inter bank transfers in assessee s bank account whereas the issue on the assessment by estimation of income on the remaining amount was inadvertently omitted. Thus there is a mistake to this extent in the order dated 16.01.2017. Now we direct the assessee to exclude the returned cheques/RTGS/inter bank transfers in assessee's bank account and assess the income by way of estimating the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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