2022 (4) TMI 900

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.... ORDER PER N.K. CHOUDHRY, J. M.: 1. The present appeal has been preferred by the Assessee against the order dated 28.01.2017 impugned herein passed by the Ld. CIT(A)-18, New Delhi (in short "Ld. Commissioner") u/s 250(6) of the Income Tax Act, 1961 (in short "the Act") for the Assessment Year 2014-15. 2. The only issue raised in this appeal by the Assessee pertains to the affirmation of the ad....

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....e Hon"ble Courts clearly held that in case of the difference between the Assessee"s books of account and as per Form No. 26AS, then on the said difference,only embedded portion of the profits is to be taken into consideration and the addition is to be made thereon but entire turnover cannot be added to the income of the Assessee. For ready reference the concluding part of the judgment of the coord....

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....re turnover to the income of the assessee. Having regard to the peculiar facts and circumstances of the case, we find it justified to restrict the addition at 5% of the net profit on the gross receipt of Rs. 11,93,79,537/-. The Ld. Assessing Officer is directed to grant relief to the assessee as on the above terms. 6. In the result, the assessee's appeal is partly allowed. 4. On the contrary th....