2022 (9) TMI 36

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....d in upholding the same. 2. That, the assessing officer has erred in computing the total income at Rs.20,89,160.00 by estimating the Net Profit @9.09% of the total turnover as against declared income of Rs. 1,99,540.00. The CIT(A) erred in also sustaining the adhoc estimated the profit @8% of total turnover, which is are illegal, unjust, highly excessive and are not based on any material on record. 3. That, the CIT (A) has erred in rejecting the books of accounts of the assessee without appreciating, that, the assessing officer has not rejecting the same, therefore, the rejection of the books of accounts is illegal, bad in law and without jurisdiction and also against the principle of natural justice. 4. That, the....

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....laced and available on record has not been properly considered and judicially interpreted and the same do not justify the additions/ allowances made. 10. That the impugned Assessment Order passed by the Assessing Officer and order passed by CIT(A) are against the principles of natural justice and the same has been passed without affording reasonable and adequate opportunity of being heard. 11. That the interest U/s 234A & 234B has been wrongly and illegally charged as the appellant could not have foreseen the disallowances/additions made and could not have included the same in current income for payment of Advance tax. The interest charged under various sections is also wrongly worked out. 12. The appellant craves....

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....he commission income at 9.09% of the total deposits in bank account and made addition of Rs. 18,89,615/-. 5. Aggrieved against this, the assessee preferred appeal before the learned CIT(Appeals), who after considering the submissions partly allowed the appeal, thereby the learned CIT(Appeals) estimated the net profit @ 8% and thus sustained addition of Rs. 18,32,000/- and rest of the addition was deleted. Aggrieved against this the assessee is in appeal before this Tribunal. 6. By way of the grounds of appeal the assessee has assailed the action of the learned CIT(Appeals) on the basis that Assessing officer has not rejected the books of account and arbitrarily applied net profit @ 9.09%. It was submitted through grounds of appeal tha....