No addition separately for bank deposits when Income been assessed on estimated basis

Sri Manne Baswa Reddy Vs ITO (ITAT Hyderabad)

The deposits in the bank account pertain to assessee. Assessee had substantial income during the year and that too he is doing retail business in IMFL. There is no allegation that these amounts also pertain to the business by the AO. Since the deposits are through-out the year in small amounts and since the corresponding credits in the books of account are not verified by the AO and the books of account having been rejected, we are of the opinion that the deposits can be telescop

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