2023 (2) TMI 80

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....eferred to as 'the Act') relating to the Assessment Year (A.Y) 2010-11. 2. The Registry has noted that the appeal is time barred by 02 days. Ld. Sr. D.R. has no serious objection in condoning the delay of 02 days. Therefore we hereby condone the delay of 02 days in filing this appeal by the assessee and the appeal is taken up for hearing. 2.1. The brief facts of the case is that the assessee is an individual, engaged in the business of trading of brass product and supplied goods to various parts of India. Further the assessee is an illiterate person. As per information with the department, it is noticed that the assessee has deposited Rs. 18,09,100/- in her State Bank of India saving account at Porbandar Branch during the Financial Ye....

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....parties wherein Ld. CIT(A) and ITAT confirmed the additions @ 5% are as follows: Sr. No. Name of Assessee Ward Amount deposited in undisclosed bank account treated as unaccounted Rate of profit estimated by assessing officer Addition made Addition sustained Hon'ble CIT(A) and ITAT 1 Dipesh C. Haria 1(3), Jamnagar  48,49,422/- 22.14% 10,73,662/- 5% 2 Bhagwan O. Katodia 1(3), Jamnagar 23,04,000/- 34.57% 7,96,792/- 5% 3 Pravin L. Busha 1(3), Jamnagar 17,25,000/- 22.34% 3,85,365/- 5% 4 Nitinkumar N. 2(2), Jamnagar 32,15,895/- 8.33% 2,67,884/- 5% 5 Rashik R. Kapuria 2(2), Jamnagar 27,25,195/- 19.28% 5,25,417/-  ....

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....d in law as well as on facts in confirming addition of Rs. 16,53,270/- u/s. 69A in respect of cash deposits made by an appellant treating it as unexplained money. 4.1. Ld. Counsel for the assessee Mr. Chetan Agarwal reiterated the same arguments made before Ld. CIT(A) and pleaded that the assessee had offered 8% on the cash deposits made before in her bank account. Similar transactions carried out by the other vendors namely Dipesh C. Haria , Bhagwan O. Kotadia, Pravin L. Busha, Nitinkumar N., Rashik R. Kapuria and Hardik K. Nakhava wherein their respective Assessing Officers namely ITO Ward 1(3), 2(2) and 2(1) made higher estimations which has been restricted to 5% by CIT(A) or ITAT. The Assessee herein had done trading of brass product....