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Income Tax Appellate Tribunal, KOLKATA BENCH “SMC” KOLKATA
Before: Shri S.S, Godara
आदेश /O R D E R This Revenue’s appeal for assessment year 2009-10, arises against the Commissioner of Income-tax (Appeals)-12, Kolkata’s order dated 30.11.2017 passed in case No.79/CIT(A)-12/Kol./Wd.40(3)/2015-16 involving proceedings u/s. 143(3) of the Income Tax Act, 1961; in short ‘the Act’.
The Revenue’s sole grievance raised in the instant appeal seeks to revive the Assessing Officer’s action treating the assessee’s cash deposit in issue of ₹65,45,808/- as unexplained in the course of assessment to be his turnover liable for net profit estimation @ 8% only in the course of lower appellate proceedings.
I have given my thoughtful consideration to the Revenue’s vehement contention that assessee had nowhere proved to be engaged in milk business. It ITO Wd-40(3),Kol. Vs. Dilip Kr. Dutta Page 2 emphasize therefore that CIT(A) has erred in law as well as on facts in not adding the entire cash deposits in issue. I find no substance in instant sole argument. The CIT(A)’s detailed discussion in page 3 onwards in lower appellate order makes it clear that the instant taxpayer had filed sufficient details to have been carrying out milk sale / transportation business. The Revenue’s sole substantive argument in seeking to reviving the entire cash deposits addition carries no merit therefore.