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2014 (1) TMI 854 - AT - Income TaxAddition made on account of sundry debtor/receivable not taken into account - Appeal partly allowed – Income to be assessed at 8% NP – Held that:- The assessee has not provided the books of accounts and vouchers and also not produced the confirmations of balances of creditors / as well as debtors - Assessing Officer has made certain additions by picking up certain figures from the assessee's balance sheet and profit and loss account - The basis of addition as observed by the Ld. Commissioner of Income Tax (A) is not coherent - the individual addition made by the Assessing Officer are on estimate basis and cannot be sustained – the Assessing Officer should have applied the provision of section 144 of the Act and should have restored to best judgement assessment - Assessing Officer is directed to assess the income of the assessee using 8% NP which would substitute all the additions made by the Assessing Officer – Decided against Revenue.
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