2022 (11) TMI 964

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....e Respondent : Sh.Ghansham Sharma, Sr. DR. ORDER PER:-ANIKESH BANERJEE, JM: The instant appeal of the assessee is directed against the order of the ld. Commissioner of Income Tax (Appeals)-1, Jalandhar, [in brevity the ld. CIT(A)] bearing appeal no. CIT(A)-1/Jal/10291/2018-19,date of order 25.09.2019, the order passed u/s 250(6) of the Income Tax Act 1961, [in brevity the Act] for A.Y. 20....

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....see issued cheque to the party for purchasing of material. The ld. AO without considering the assessee's submission had adjusted the withdrawn from bank with deposit of cash, had determined the cash deposit in bank account amount to Rs. 12,44,880/-. The ld. AO had wrongly determined total income of Rs.25,12,800/- in the assessment order passed u/s 143(3)/147. The assessee filed a rectification pet....

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....ther relied on the order of the Hon'ble High Court ofPunjab & Haryana in the case of CIT vs. Surinder Pal Anand[2010] 192 Taxman 264 (Punjab & Haryana), held that; "Once under the special provision, exemption from maintaining of books of account has been provided and presumptive tax @ 8% of the gross receipt itself is the basis for determining the taxable income, the assessee was not unde....

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....e provision of the Act. In the case of Hon'ble High Court ofAllahabadin the case of Commissioner of Income-tax-I, Kanpurv.NitinSoni[2012] 21 taxmann.com 447 (All.)holding that ; "The very purpose and idea of enactment of provision like section 44AE is to provide hassle free proceedings. Such provisions are made just to complete the assessment without further probing provided the condition....