2025 (3) TMI 1924

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....ondent : Ms. R. Anitha, Addl. JCIT ORDER PER JAGADISH, A.M : Aforesaid appeal filed by the assessee for Assessment Year (AY) 2011-12 arises out of the order of Learned Commissioner of Income Tax, National Faceless Appeal Centre (NFAC), Delhi [hereinafter "CIT(A)"] dated 24.05.2024 in the matter of assessment framed by Ld. Assessing Officer [AO] u/s. 143(3) of the Income-tax Act, 1961 (her....

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....6 3329 0200-00186232-11001 52,301 3983 0200-00186955-11001 6,94,718 41298 0200-00187373-11001 5,13,256 37094 0200-00186272-11001 7,50,588 30193 0200-02700272-11001 7,50,588 30193 0200-02700320-11001 5,37,093 21605   26,47,650 1,46,130 3. The A.O also added the balance as on 31.03.2011 in respect of above interest as undisclo....

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....rejecting the books of accounts, which is excessive and not in accordance with law. The Ld. AR has submitted that in similar cases, the Hon'ble Madras High Court in the case of CIT vs. Shri Srinivasan Devendran in TCA No.15 of 2023 dated 10.01.2023 has approved the estimation @ 5%. 5.1 As regard to addition of interest income, the Ld. AR has submitted that out of addition of interest of Rs. 1,4....

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....egard to balance of Rs. 14 Lakhs, the Ld. AR has submitted that the same is given by his wife Smt. Sakunthala and therefore, deposit is explained. 6. The Ld. Departmental Representative (DR), on the other hand, has relied on the orders of lower authorities. 7. We have heard the rival submissions, and perused the materials available on record. The A.O has rejected the books of account for the....