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of <h1>Tribunal upholds income tax appeals, dismisses challenges on sales suppression & profit estimation</h1> The Tribunal dismissed the appeals challenging the Commissioner of Income Tax(Appeals)'s orders for various assessment years. The Tribunal upheld ... - Issues involved: Appeal against orders of Commissioner of Income Tax(Appeals) under sections 143(3) read with 153A and 153C for assessment years 2002-03, 2004-05, 2005-06, 2006-07, 2007-08, and 2008-09.Assessment Year 2002-03:- Issue: Addition connected with purchase of agricultural land by friend.- Details: Assessee contends addition was related to friend's land purchase.Assessment Year 2004-05:- Issues: 1. Addition in respect of jiggarthanda sales. 2. Net profit estimation at 15% deemed excessive. 3. Amount related to family settlement.- Details: Assessee challenges additions and profit estimation, citing excessive and incorrect assessments.Assessment Year 2005-06:- Issue: Net profit estimate at 15% and sales related to jiggarthanda.- Details: Assessee disputes profit estimate and sales quantum.Assessment Year 2006-07:- Issue: Addition sustained in respect of sales.- Details: Assessee contests addition related to sales.Assessment Year 2007-08:- Issues: 1. Profit estimate. 2. Advance payment for property purchase. 3. Addition related to stamp duty.- Details: Assessee disputes profit estimate, advance payment, and stamp duty addition.Assessment Year 2008-09:- Issue: Estimate addition in respect of sales related to jiggarthanda and restaurant.- Details: Assessee challenges addition in sales estimation.Common Grounds for Smt. Uma Maheswari:- Issues: Estimation of jiggarthanda sales and net profit at 15% for assessment years 2004-05, 2005-06, 2006-07, 2007-08, and 2008-09.- Details: Contention against sales and profit estimation by Commissioner of Income Tax(Appeals).The Tribunal dismissed the appeals after considering the arguments presented by both parties. The search revealed undisclosed business and investment transactions, leading to additions under different heads. The Commissioner of Income Tax(Appeals) upheld additions in restaurant and jiggarthanda sales, modifying profit estimation to 15% from 20%. The Tribunal found the pattern of sales suppression established by seized materials, justifying the estimate-based additions. The plea for telescoping individual additions against suppressed sales was rejected due to lack of nexus. The Tribunal upheld the individual additions based on materials collected during the search. Ultimately, the appeals were dismissed on 8th December 2011 in Chennai.
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