TaxTMI 
TaxTMI 
2016 (1) TMI 494
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....relates to same block period, the facts and circumstances of all the cases are similar except for the Assessees and amounts and the submissions are also common for all the appeals and therefore all the appeals can be heard together. Ld D.R did not object to the aforesaid submissions of Ld. A.R. We therefore proceed to dispose of all the appeals together for the sake of convenience and thus proceed with the facts in IT(SS)A No. 522/Ahd/2011 in the case of Chetan C. Patel. 3. Assessee is an individual stated to be doing business in the trading of coal in the name & style of "M/s. Best Coal Depot" and carting in the name of P.M. Services. A search and seizure operation u/s. 132 of the Act was carried out at the business and residential prem....
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.... erred in making addition of Rs. 2,29,834/- as undisclosed income for the block period. 2. Ld. CIT(A) has erred in law and on the facts of the case in confirming the action of Id. AO in not following directions of the Hon'ble ITAT in true spirit and accordingly erred in making GP addition. 3. Ld.CIT(A) has erred in law and on the facts of the case in confirming the action of ld.AO in treating income for the assessment years where return of income was not filed as the income was below the maximum amount not chargeable to tax even after applying the GP rate as adopted by the ld. AO. 4. Ld.CIT(A) has erred in law and on the facts of the case in confirming the action of ld.AO in not following the directions given by t....
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....d. AO in levying interest u/s 158BFA(1) of the Act. 8. The learned CIT(A) has erred in law and on facts of the case in confirming the initiation of penalty proceedings u/s 158BFA(2)of the Act. 4. Before us, at the outset, ld. A.R. submitted that though Assessee has raised various grounds but the short controversy involved and which requires adjudication is as to whether the gross profit rate (GP rate) or the net Profit rate (NP rate) should be adopted while estimating the income of the Assessee. 5. Ld. A.R. submitted that against the order framed u/s. 158BC by the A.O in the first round, Assessee preferred appeal before ld. CIT(A) who vide order dated 18.11.2002, after adopting NP rate at 1.3% confirmed the addition to the ex....
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....l submissions and perused the material on record. The issue in the present case is about the estimation of income. In the first round before Tribunal, the co-ordinate Bench of the Tribunal noted that the sales are undisputed and the matter was set aside to A.O to decide the appropriate gross profit or net profit to be applied to the case of Assessee. Pursuant to the directions of the co-ordinate Bench, we find that A.O at para 9 though had concluded that it was reasonable to apply the net profit rate of 1.5% to the Assessee as in the case of Omprakash & Co. to the Assessee's business but in the later part of the order, we find that A.O proceeded to adopt the GP rate at 6.19% and did not grant the deduction of expenses of transportation of l....