2026 (6) TMI 234

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..../2026 for AY 2012-13, arises out of the order of the National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as 'ld. CIT(A)', in short] dated 17.02.2026 against the order of assessment passed u/s 144 of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') dated 26.11.2025 by the Assessing Officer, KNPW-( 75)(91) (hereinafter referred to as 'ld. AO'). 2. The Ground No. ....

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....s issued by the ld AO and submitted its plea that there was cash withdrawals from the same bank account during the year to the tune of Rs. 27,22,100/- which would explain the source for cash deposits of Rs. 26,00,250/- without prejudice basis, assessee pleaded for adoption of profit percentage @ 8% as prescribed in Section 44AD of the Act or to works out the peak credit and make addition to the bu....

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....on that arises for my consideration is whether determination of profit @30% would be justified or not. I find the provisions of Section 44AD of the Act gets into operation and wherein 8% profit has been provided in the statue. Hence, I hold that only 8% of Rs. 26,00,250/- profit should be considered to be the total income of the assessee. The assessee had also disclosed the net profit taxable inco....