2025 (9) TMI 853

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....st on two occasions on 16.06.2025 and 14.07.2025 CA Poker Ram appeared. However on the remaining days of hearing fixed on 03.03.2025, 26.03.2025, 07.05.2025 and 25.08.2025 and today i.e. 09.09.2025 none appeared. However assessee has filed the Paper Book and written submissions. I therefore proceed to adjudicate with the assistance of Ld. Departmental Representative (DR) and available records ex-parte que assessee. 2. Registry has informed that the appeal is time barred by 930 days. Condonation application alongwith affidavit has been filed by the assessee which indicates that the delay has arised due to the dependancy of the assessee on the Tax Consultant/authorized representative for filing the appeal. Considering the fact that assesse....

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....copies of purchases and sale invoices were filed. However in absence of the cash book, Ld. A.O. concluded the proceedings making two additions. Firstly for unexplained cash deposit of Rs. 4,23,000/- during demonetization period. Secondly estimated net profit @ 10% of the total credit/cash entries in Bank except cash deposit in Specified Bank Notes (SBN) at Rs. 4,23,000/- and applied the 10% profit rate on the remaining credit of Rs. 93,44,102/- making an addition of Rs. 9,34,410/- assessing income at Rs. 93,44,410/- 4. Aggrieved assessee preferred appeal before Ld. CIT(A) but failed to succeed. Aggrieved assessee is now in appeal before this Tribunal challenging the addition of Rs. 13,57,410/- Ld. Departmental Representative (DR) vehemen....

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....rough bank channel. Assessee has also furnished the copies of registration certificate under shop Act and vat Act. However since assessee has declared income on presumptive basis regular books including cash book were not required to be maintained and for this reason for non furnishing of cash book the impugned additions have been made by the AO. 6. I find that Ld. AO on one hand has accepted the credits in the Bank during the year at Rs. 93,44,102/- as business receipts but for the cash deposits in the very same bank again during demonetization period has not been accepted it as business receipts without making reference to any other material found against the assessee. 7. After going through the Paper Book and going through the bank....