Tribunal held that,

++ in the bank accounts the amounts deposited/withdrawn is not disputed. The AO after perusal of the affidavits of the assessee and that of her relatives has taken note that there were 41 cows and buffaloes maintained by the assessee in the relevant assessment year. From the assessment order it is discerned that assessee is having source of her income from (i) cows, (ii) buffaloes, (iii) milk and milk products and (iv) sweet shop. The sweet shop income assessee has already offered in her regular return of income. So the source of deposit in the bank accounts must be inferred to have been from the sources of income other than from sweet shop. Taking into consideration the overall facts and circumstances of the case, it was noted that in order to find out the undisclosed income of the assessee the AO has to take into consideration the total deposits in the bank account and thereafter, reduce the turnover disclosed by the assessee from sweet shop, which will give the undisclosed turnover of the assessee. It is trite law that the entire undisclosed turnover cannot be the income of the assessee. Necessarily the undisclosed income that shall form part of the total income would be so taken after defraying all expenses that are incurred for earning such income by the assessee, therefore, taking into consideration the overall facts and circumstances of this peculiar case, Gross profit rate of 10% of the undisclosed turnover should be taken as the undisclosed income of the assessee and that amount has only to be taxed. The impugned order of CIT(A) is set aside on this issue and the AO is directed to compute the gross profit. In the result, appeal of assessee is partly allowed.

(See 2019-TIOL-390-ITAT-KOL)