Tribunal upholds CIT(A)'s decisions on income, undisclosed sources, bank interest, and assessment reopening.

The Tribunal dismissed both the Revenue's and the assessee's appeals, upholding the CIT(A)'s decisions on all contested issues, including the reduction of 'Income from profession' and the restriction of addition of income from undisclosed sources. The Tribunal also agreed with the deletion of bank interest as part of the total income and dismissed the challenge against the re-opening of assessment.

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Issues Involved:
1. Reduction of 'Income from profession' from Rs. 54,00,899 to Rs. 40,17,517.
2. Restriction of addition of income from undisclosed sources from Rs. 4,99,266 to Rs. 2,82,838.
3. Deletion of addition of Rs. 15,490 as bank interest.
4. Re-opening of assessment.

Detailed Analysis:

1. Reduction of 'Income from profession':
The Revenue contested the reduction of professional income from Rs. 54,00,899 to Rs. 40,17,517 by the CIT(A). The assessee, an Advocate, had declared only cheque receipts in his original return, omitting cash receipts. A survey under Section 133A of the Income-tax Act, 1961, revealed discrepancies in the professional receipts. The AO calculated the professional income based on impounded registers, determining it at Rs. 54,00,889. The CIT(A) later accepted the assessee's working of month-wise profit from the registers, reducing the income to Rs. 40,17,517. The Tribunal upheld the CIT(A)'s decision, noting the AO's failure to refute the assessee's calculations during remand proceedings.

2. Restriction of addition of income from undisclosed sources:
The AO identified undisclosed deposits totaling Rs. 5,35,560.52 in the assessee's savings bank account, reducing it to Rs. 4,99,266 after excluding certain entries. The assessee admitted to Rs. 2,82,838 as undisclosed income, claiming the remaining were transfers between accounts. The CIT(A) accepted this explanation, reducing the addition to Rs. 2,82,838. The Tribunal upheld this decision, noting the AO's failure to verify the transfer entries and the correctness of the CIT(A)'s findings.

3. Deletion of addition of Rs. 15,490 as bank interest:
The AO included Rs. 15,490 as bank interest in the total income. The CIT(A) deleted this addition, observing that the bank interest was already part of the total credits added from the savings bank account. The Tribunal agreed, noting that including the bank interest separately would result in double taxation.

4. Re-opening of assessment:
The assessee challenged the re-opening of the assessment. However, the assessee's representative did not press this ground of appeal, leading to its dismissal by the Tribunal.

Conclusion:
The Tribunal dismissed both the Revenue's and the assessee's appeals, upholding the CIT(A)'s decisions on all contested issues. The order was pronounced in the open court on 06.10.2015.

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