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2018 (8) TMI 843 - AT - Income TaxEstimation of income from contract receipt - rejection of books of accounts - CIT(A) estimated the income @10% as against 15% estimated by the AO - Held that:- Both the sides are unanimous in stating that the facts in the assessment year under appeal are similar to earlier assessment years i.e. assessment years 2008-09 to 2011-12. Following the decision of Coordinate Bench, we estimate net profit of the assessee @ 9% of the total gross contract receipts in the assessment year under appeal as well. - Decided partly in favor of assessee.
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