Assessing Officer Justifies Adding Entire Cash Deposits Due to Lack of Evidence, Applies 0.5% Profit Rate Instead.

Assessing Officer Justifies Adding Entire Cash Deposits Due to Lack of Evidence, Applies 0.5% Profit Rate Instead. https://www.taxtmi.com/highlights?id=16497 The source of the said huge cash deposits were not explained by the assessee by a single document, evidence or by any convincing reasons - The addition of entire gross amount is warranted for want of evidence but the A.O. himself has applied 0.5% rate of profit - AT en-us Mon, 23 Dec 2013 11:05:21 +0530 Mon, 23 Dec 2013 11:05:21 +0530 TaxTMI RSS Generator Assessing Officer Justifies Adding Entire Cash Deposits Due to Lack of Evidence, Applies 0.5% Profit Rate Instead. https://www.taxtmi.com/highlights?id=16497 The source of the said huge cash deposits were not explained by the assessee by a single document, evidence or by any convincing reasons - The addition of entire gross amount is warranted for want of evidence but the A.O. himself has applied 0.5% rate of profit - AT Highlights Income Tax Mon, 23 Dec 2013 11:05:21 +0530 https://www.taxtmi.com/highlights?id=16497