TMI Blog2014 (4) TMI 855X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 submitted a return of income to the tune of Rs. 1704329/. The case was taken up in scrutiny and notice under Section 143(2) of IT Act was issued and after conducting the process the Assessing Officer found that the assessee has not produce adequate evidence in the matter of income derived by him from contractorship business and therefore the entire receipt of Rs. 34086575/was added to the ind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Officer, verified the same and objected to its acceptance on the ground that inspite of repeated opportunity the assessee did not produce the record at the time of assessment and only pleaded illness and medical ailment. The Assessing Officer refused to accept the same, however the Commissioner of Income Tax (Appeals) went through the records and found that records do show that the appellant w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stimating net profit of 10% of the gross contract and accordingly passed the assessment order, the same has been upheld by the appellate authority namely, the Income Tax Appellate Tribunal. Even though Shri Sanjay Lal learned counsel tried to emphasis that the assessee having failed to produce the documents and evidence before the Assessing Officer. The Assessing Officer has not committed any erro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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