2024 (10) TMI 592

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....on. 3. Ground Nos. 3 & 4 raised by the assessee in challenging the action of the ld. CIT(A) in restricting the addition made under section 69A of the Income Tax Act, 1961 ["Act" in short] in the facts and circumstances of the case. 4. At the outset, we note that the Assessing Officer on an AIR information found the assessee made cash deposit in his savings bank account with Kotak Mahindra Bank, Namakkal. Having no return of income filed, the Assessing Officer issued notice under section 148 of the Act on 31.03.2017. According to the Assessing Officer, there was no response by the assessee in filing the return of income or details in respect of cash deposits. The Assessing Officer proceeded to complete assessment proceedings in the absence....

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....iness income. Relevant portion is reproduced in para 6.1 of the impugned order. Further, the Assessing Officer, under remand proceedings, held that the assessee could able to produce evidence like labour bill, etc, to an extent of Rs.. 20,23,250/- against total tiles laying contract receipts of Rs.. 31,69,719/- and no evidence was submitted towards Rs.. 11,46,469/- [31,69,719 - 20,23,250]. The ld. CIT(A) considering the same, restricted the addition to an extent of Rs.. 11,46,469/-. 6. Before us, the ld. AR Shri H. Yeshwanth Kumar, C.A. submits that the assessee was appointed as Lab Technician in the Department of Tamilnadu Public Health Subordinate Services in August, 2009, relevant to the assessment year 2010-11, thereby, the assessee of....

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....er as well as the Assessing Officer in the remand report, we note that the assessee was a contractor prior to his appointment in Govt. Job as a lab technician. The assessee offered reasons for non-appearance before the ld. CIT(A) and filed return of income by showing income, such as, salary income, business income from tiles laying contract and agricultural income. The assessee, particularly, adopted 10% of net profit under section 44AD of the Act in respect of the business receipt as stated to have been deposited in his two bank accounts. The Assessing Officer held in the remand report that the assessee could able to show copy of the labour bills to an extent of Rs.. 20,23,250/- and for the remaining amount, he held that there is no eviden....