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TMI Blog2022 (10) TMI 337X X X X Extracts X X X X X X X X Extracts X X X X ..... COURT ] that the profit/commission was to be estimated at 1% of the aggregate credits. Therefore, respectfully following the judgement of the jurisdictional High Court of Delhi in the case of JKD Brokers P. Ltd. vs. CIT (supra) the estimation made by the AO is reduced to 1% of aggregate credits and the AO is directed to recompute the addition accordingly. Grounds No.5 and 6 of the assessee are, thus, partly allowed. - ITA No. 1084/Del/2021 - - - Dated:- 20-9-2022 - SHRI C. M. GARG , JUDICIAL MEMBER Assessee by : Shri Suresh Kumar Gupta , CA Revenue by : Shri Mithalesh Kr. Pandey , Sr. DR ORDER This appeal filed by the assessee is directed against the order dated 06.12.2019 of the CIT(A), Delhi-13, relating to Ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... confirming the estimated addition is unsustainable in law as the same has been made without complying with mandatory provisions of sec 145(1) of IT Act in absence of any finding that the books of account not found to be reliable for computation of income. 7. The appellant craves leave to add, delete, modify / amend the above grounds of appeal with the permission of the Hon ble appellate authority. 3. The ld. Assessee s representative submitted that the assessee does not want to press grounds No.1 to 4. Therefore, the same are dismissed as not pressed. 4. Apropos grounds No.5 and 6, the ld. AR submitted that the ld.CIT(A) has erred both in law and on facts in confirming the estimated addition of Rs.24,87,067/- ignoring the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made by the assessee. Therefore, the assessment as well as the first appellate order may kindly be confirmed. However, the ld. Sr. DR agreed to the factual situation that various High Courts and coordinate Benches of the Tribunal, in the identical facts and circumstances, has reduced the estimation of commission to a reasonable percentage. 6. On careful consideration of the above submissions, I am of the considered view that in the identical facts and circumstances, the coordinate Bench of ITAT Delhi, in the case of Vishnu Goel, vide ITAs No.3929 to 3932/Del/2015, order dated 15.10.2018 has held that where as the AO initially estimated income at 2% which was reduced by the ld.CIT(A) to 1% in first appeal. At this juncture, I take resp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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