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2012 (8) TMI 705 - AT - Income TaxBest judgement assessment - estimation of profit @ 8% u/s 44AD - further addition made of concealed contract receipts not reflected in the regular books of account maintained and unexplained investment u/s 69B utilized to pay wages to workers/labourers - Held that:- W.r.t. addition on ground of concealed contract receipts, assessee contended that same has been received in the following year after deduction of tax at source. TDS certificates and bank statements placed on record. Therefore, the AO is directed to accept the gross contract receipts as declared by the assessee. Further, once the NP rate having been applied no other addition on account of wages or contract receipts as mentioned hereinabove can be a subject matter of addition. AO is directed to exclude the said amounts - Decided in favor of assessee
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