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2016 (6) TMI 736 - AT - Income TaxEstimation of income based on the previous history of the assessee - civil construction work - Rejection of book of accounts u/s 145(3) - Held that:- CIT(A) has effectively taken the net profit rate at 5.05% which is based on the previous history of the assessee. The ld. DR was not able to controvert the fact recorded by the ld. CIT(A) in his order. Therefore, we find no merit in this ground of appeal of the Revenue which is dismissed. - Decided against revenue Addition u/s 41 - addition on accounts of all the sundry creditors above ₹ 1,00,000/- - main contention of the Revenue was that the assessee has neither filed confirmations nor these parties were produced for examination -AR submitted that these were the trading liabilities and were not old in nature - Held that:- Most of the liabilities were of current year or immediately preceding year and the accounts were active in nature and the transactions were being carried out for the current year as well as in the subsequent year. Considering these facts and circumstances of the case, we are of the view that the ld. CIT(A) has rightly deleted the addition and find no infirmity in his order which is sustained - Decided against revenue
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