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In the result, the appeal of the assessee is dismissed
Bench: Shri.Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2013-14 M/S Rajendra Prasad Srivastava, Vs. Asstt. Commissioner Of Income Sarfuddinpur, Near Railway Tax, Range-Azamgarh Station, Azamgarh-276001 Pan-Aakfr2986A (Appellant) (Respondent) Appellant By: Sh.Hari N. Singh Bisen, C.A. Respondent By: Sh. A.K. Singh, Sr. Dr Date Of Hearing: 11.01.2023 Date Of Pronouncement: 07.02.2023
section 145(3) of the Income Tax Act and then estimated the business income by excluding the interest income on FDR which was separately assessed as income from other sources. Accordingly, the net profit was estimated by the Assessing Officer at 8% before interest and remuneration paid to partner. Consequently, the Assessing Officer has assessed the total income