TaxTMI 
TaxTMI 
2026 (7) TMI 1321
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.... 3. First, we shall take up the appeal in ITA No.572/PUN/2025 for adjudication as the lead case. ITA No.572/PUN/2025 : 4. The appellant has raised the following grounds of appeal :- "1. On the basis of facts and as per law, the notice issued u/s. 148 as well as assessment order passed u/s 147/144 pursuant to said notice please be quashed being without jurisdiction when the notice u/s. 148 was issued by The Income-tax Officer, Ward -2, Dhule when the jurisdiction of the appellant was with The Income-tax Officer, Ward 2, Nandurbar. 2. On the basis of facts and as per law, the notice issued u/s. 148 as well as assessment order passed u/s 147/144 pursuant to said notice please be quashed because reasons for issuance of ....
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....ice may please be quashed because the said notice is issued by holding that the cash deposited in the savings bank account of the appellant is income in the absence of furnishing return of income by the appellant, particularly, when there is no such provision under the Act. 7. On the basis of facts and circumstances of the case and as per law, The Commissioner of Income Tax (Appeals) is not justified in confirming the addition of Rs. 47,44,100/- by estimating the net profit of the appellant 230% of the turnover of the appellant, particularly when, the appellant was wholesaler and not retailor. 8. On the basis of facts and circumstances of the case and as per law, The Commissioner of Income Tax (Appeals) is not justified in....
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....n the time barred return. The above assessed income includes addition of Rs. 47,44,100/- being 30% profit estimated on the deposits of Rs. 1,58,13,670/- in his bank accounts. Addition of Rs. 683/- regarding bank interest income was also made by the Assessing Officer. 6. Being aggrieved with the above assessment order, the assessee preferred an appeal before Ld. CIT(A)/NFAC. After considering the reply and submissions of the assessee, Ld. CIT(A)/NFAC dismissed the appeal filed by the assessee and confirmed the additions made by the Assessing Officer. 7. It is the above order against which the assessee is in appeal before this Tribunal. 8. Ld. AR appearing from the side of the assessee submitted before us that the order passed by Ld.....
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....T(A)/NFAC and requested to confirm the same. 10. We have heard Ld. Counsels from both the sides and perused the material available on record including the paper book furnished by the assessee. Ld. AR of the assessee has not pressed the ground nos.1, 2, 3, 4, 5, 6, 8 & 9, and argued on ground no.7 only therefore, the ground nos.1, 2, 3, 4, 5, 6, 8 & 9 are dismissed as not pressed. 11. With regard to ground no.7, we find that the assessee is selling BSNL recharge vouchers and chips/wafers and kirana etc on commission basis and as per certificates he was allowed to charge 4% commission only. 12. Considering the totality of the facts of the case, we find force in the above arguments of Ld. Counsel of the assessee that application of 30....