2019 (9) TMI 154

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....ajasekar For Respondent: Mr. S. Rajesh, JSC for Mr. Karthik Ranganathan, SSC ORDER Judgment was delivered by T.S. Sivagnanam, J We have heard Mr.S.Rajasekar, learned counsel for the appellant - assessee and Mr.S.Rajesh, learned Junior Standing Counsel appearing for the respondent - Revenue. 2. This appeal filed by the assessee under Section 260A of the Income Tax Act, 1961 (for shor....

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....is no need to consider the net profit ratio in making the addition, not perverse?" 4. The assessee is an individual stated to be running a snack bar and trading in edible essences. For the assessment year under consideration namely 2009-10, the assessee filed return of income on 20.10.2009. The return was processed under Section 143(1) of the Act on 27.9.2010. The case was selected for scrutiny....

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....he difference in the amount credited into the bank and the amount shown as turnover was added to the total income. The Assessing Officer further found that the assessee deposited cash totaling to Rs. 9,40,000/- in the ICICI Bank current account. Since the assessee did not disclose the details, the Assessing Officer addressed a letter to the ICICI Bank and called for details. However, the bank did ....

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....e assessee was not satisfactory and dismissed the appeal. On further appeal by the assessee, the Tribunal concurred with the view taken by the CIT(A) and dismissed the appeal. This is how the assessee is before us by way of this appeal. 7. From the facts, it is evidently clear that the explanation offered by the assessee was found to be not satisfactory by the Assessing Officer. The CIT(A) re-e....