2020 (1) TMI 1063

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....MENT ARAVIND KUMAR J, Heard Smt. Vanaja. M.R, learned counsel appearing for appellant and Sri. E.I. Sanmathi, learned panel counsel appearing for revenue. Perused the records. 2. This appeal is preferred by the assessee challenging the order passed by the Income Tax Appellate Tribunal (for short 'ITAT') in ITA No.1051/Bang/2018 relating to assessment year 2014-15 whereunder appeal filed b....

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..... 8,60,646/- to the return of income. Based on the said agreement, assessment proceedings came to be concluded by order dated 28.12.2016-Annexure-B passed under Section 143(3) of the Act. Being aggrieved by the same, an appeal came to be filed contending that said addition could not have been made particularly in the backdrop of books of accounts having not been rejected. Commissioner of Income Ta....

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....or there being any contention that as per profit and loss account no such addition of 2% came to be made, held that appeal was bereft of merit and accordingly rejected the same. 5. In fact, judgments which were relied upon by the assessee before the tribunal and reiterated before us, would also not come to the rescue of appellant, inasmuch as, facts obtained in both the cases are entirely diffe....