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2014 (4) TMI 855 - HC - Income TaxAppeal u/s 260A of the Act - Assessment of individual income - Civil construction work – Production of adequate evidences - Held that:- Tribunal was rightly of the view that it would be appropriate and reasonable to assess the income by estimating net profit of 10% of the gross contract - the Tribunal have exercised their discretion and jurisdiction in the matter of permitting the assessee to adduce additional evidence in accordance to the requirement to the statutory rules i.e. under rule 46(A) of the Act and have adopted the reasonable approach and based on the documents and additional evidence filed particularly work order and the payments after deduction of TDS came to the conclusion – thus, the findings are neither perverse, illegal nor contrary to law warranting reconsideration now in this proceedings u/s 260A of the Act – there is no need to interfere in the order of the Tribunal – Decided against Revenue.
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