9911796707
TMI Blog2022 (4) TMI 900X X X X Extracts X X X X X X X X Extracts X X X X ..... d that said amount was not accounted for by the Assessee in its gross receipts - HELD THAT:- As decided in the cases of Shri Kayyum Ahmed [ 2015 (5) TMI 1073 - ITAT DELHI] and Sohan Lal Aggarwal [ 2021 (8) TMI 1292 - ITAT DELHI] and submitted that in the identical situation, the Hon ble Courts clearly held that in case of the difference between the Assessee s books of account and as per Form No. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... PER N.K. CHOUDHRY, J. M.: 1. The present appeal has been preferred by the Assessee against the order dated 28.01.2017 impugned herein passed by the Ld. CIT(A)-18, New Delhi (in short Ld. Commissioner ) u/s 250(6) of the Income Tax Act, 1961 (in short the Act ) for the Assessment Year 2014-15. 2. The only issue raised in this appeal by the Assessee pertains to the affirmation of the addi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion, the Hon ble Courts clearly held that in case of the difference between the Assessee s books of account and as per Form No. 26AS, then on the said difference,only embedded portion of the profits is to be taken into consideration and the addition is to be made thereon but entire turnover cannot be added to the income of the Assessee. For ready reference the concluding part of the judgment of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the entire turnover to the income of the assessee. Having regard to the peculiar facts and circumstances of the case, we find it justified to restrict the addition at 5% of the net profit on the gross receipt of ₹ 11,93,79,537/-. The Ld. Assessing Officer is directed to grant relief to the assessee as on the above terms. 6. In the result, the assessee s appeal is partly allowed. 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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