2016 (12) TMI 1847

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....n of income for the AY 2002-03 on 09/10/2002 admitting taxable income of Rs. 81,160/-. Search and seizure operations u/s 132 of the Income-tax Act were conducted in the residential premises of the assessee on 07/11/2007. Subsequently, in response to notice issued u/s 153A, the assessee filed the return admitting taxable income of Rs. 2,76,990/-. The assessment was completed u/s 143(3) r.w.s. 153A of IT Act on 30/11/2009 by making the following additions: 1. Difference in profit Rs. 1,23,435/- 2. Disallowance of deduction u/s 80U Rs. 40,000/-. 3. The assessee has raised 9 grounds of appeal, out of which ground Nos. 1 is general in nature. Ground Nos. 2 & 3 did not arise out of the order of the CIT(A), hence, we do not deal with the ....

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....bunal in assessee's own case for AY 2007-08 in ITA No. 1391/H/10, order dated 17/06/2015, a copy of which is available on record. 7. The ld. DR on the other hand relied on the orders of revenue authorities. 8. Considered the rival submissions and perused the material facts on record. We find that the issue in dispute is squarely covered in favour of the assessee by the coordinate bench of this Tribunal (supra), where in the Bench has held as under: "8. As regards ground relating to estimation of profits, we heard the rival parties. Admittedly, there is no incriminating material seized as a result of search and seizure operation indicating that the Books of Accounts maintained by the assessee are either defective or appellant had in....