Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (6) TMI 1177 - AT - Income TaxRejection of books of accounts - Net profit estimation at 5% of the total turnover - Held that:- FAA had mentioned that the assessee had produced certain details including bank statements before AO,during the assessment proceedings, that the AO had passed an ex-parte order. If the assessee’s books of account were audited and an audit report was filed along with the return of income,then it cannot be said the assessee was not maintaining the books of account. Considering the peculiar facts and circumstances of the case,we have admitted the additional evidence produced before us by the assessee. We are of the opinion that in the interest of justice the matter should be restored back to the file of the AO for fresh adjudication. The effective ground of appeal filed by the assessee is allowed in favour of the assessee in part.
|