TaxTMI 
TaxTMI 
2026 (6) TMI 1484
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....ispose of the same by this common order. 3. First, we shall take up the appeal in ITA No.2597/PUN/2025 for A.Y. 2010-11 for adjudication as the lead case. ITA No.2597/PUN/2025, A.Y. 2010-11 : 4. The appellant has raised the following grounds of appeal :- "1] The learned CIT(A) erred in confirming the addition of Rs. 1,28,39,098/-made u/s. 69A on account of unexplained deposits in the bank account number 167010100116534 with Axis Bank Ltd. 2] The learned CIT(A) erred in holding that the assessee had failed to prove the sources of the deposits of Rs. 1,28,39,098/- and accordingly, addition was rightly made by the ld. A.O u/s. 69A of the Act. 3] The learned CIT(A) failed to appreciate that the deposits in th....
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....o add, alter, amend or delete any of the above ground of appeal." 5. Facts of the case, in brief, are that the assessee is an individual and engaged in the business of trading in tobacco. He deals in two types of tobacco namely raw tobacco and finished / processed tobacco. The assessee in his original return of income filed u/s. 139(1) of the IT Act on 20.09.2010 has declared total income at Rs. 2,02,350/- which was subsequently revised by furnishing revised computation of income by declaring total income at Rs. 3,55,138/-. The original assessment u/s. 143(3) of the IT Act was completed on 15-03-2013 at Rs. 19,71,303/- by making the addition of Rs. 3,71,565/- on account of undisclosed profit by estimating the GP @ 9% of Rs. 41,28,500/- a....
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....sessing Officer, the assessee preferred an appeal before the Ld. CIT(A)/NFAC. After considering the reply & submissions of the assessee, vide order dated 27.09.2025, Ld. CIT(A)/NFAC dismissed the appeal filed by the assessee and consequently confirmed the order passed by the Assessing Officer. 8. It is the above order against which the assessee is in appeal before this Tribunal. 9. Ld. Counsel for the assessee at the outset submitted before us that in the case of the assessee identical additions were made on similar grounds (on the basis of cash deposited and other credits in the bank accounts) for assessment years 2008-09, 2009-10 & 2010-11, and a coordinate bench of this Tribunal in ITA No.2596/PUN/2025 vide order dated 09.03.2026 h....
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....rn nor in the revised return has included the profit from sale of raw tobacco though all the transactions were routed through Axis Bank Ltd account bearing A/c No.167010100078205. These transactions remained outside the books of account. I find in the original assessment the Assessing Officer estimated the profit from such unaccounted business @ 9% which was enhanced by the Ld. CIT(A) / NFAC directing the Assessing Officer to tax the entire deposits as income of the assessee. I find the Tribunal, on the basis of certain additional evidences filed before it, set aside the matter to the file of the Assessing Officer for deciding the issue afresh. I find while the Assessing Officer in the case of the mother of the assessee has accepted the sub....
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....et aside proceedings although the Tribunal in the common order has restored the matter to the file of the Assessing Officer in case of the assessee as well as his mother. I, therefore, find some force in the arguments of the Ld. Counsel for the assessee that the entire sales cannot be added without giving any set off towards purchases. Since the Assessing Officer in the original assessment has estimated the profit from such unaccounted transactions at 9% of the turnover and since in case of the mother of the assessee no such addition has been made in the set aside proceedings, therefore, considering the totality of the facts and circumstances of the case and in the interest of justice, in my opinion, the addition @ 10% of the total sales of....